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Assuming that A = 100, = 0.25, and = 0.375. The units of capital, human capital, and labor in the economy are 625, 256, and
Assuming that A = 100, = 0.25, and = 0.375. The units of capital, human capital, and labor in the economy are 625, 256, and 256, respectively. All factors are fully utilized in the production. Calculate total output, real rental rate of capital, and real wage rate for skilled and unskilled workers respectively
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Modern Principles of Economics
Authors: Tyler Cowen, Alex Tabarrok
3rd edition
1429278390, 978-1429278416, 1429278412, 978-1429278393
