Question
Country A uses 182 units of capital, and 169 units of labor to produce Product X by using the following production function: Q = K
Country A uses 182 units of capital, and 169 units of labor to produce Product X by using the following production function:
Q = K0.5L0.5
If the price of product is equal to $1, what is the nominal wage rate in that country?
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The Vanishing American Corporation Navigating The Hazards Of A New Economy
Authors: Jerry Davis, Gerald F Davis
1st Edition
1626562792, 9781626562790
