(Example: If your student number is 0988250 this line should be 9 (A) 8(B) 8(C) 2(D)

Using the set of number generated from your student ID number above create the following parameters to use in solving a Specific Factor Model.

An economy has two sectors, a food (denoted by F) sector and a manufacturing sector (denoted by M). The food sector uses a specific factor, land (denoted by a T), and a mobile factor, labour (denoted by LF), to produce food. The manufacturing sector uses a specific factor, capital (denoted by a K), and a mobile factor, labour (denoted by LM), to produce manufactured goods. The marginal products of labour in producing food and manufactured goods are

MP^F_L = 10A - L_F

MP^M_L = 20C - L_M

Where A and C in the equations are the digits from your student ID number.

Let the price of a unit of food be given by B and the price of a unit of manufactures by D.

The labour force, L = LF + LM, is given by 10x(A+C) where A and C are again digits from your ID number.

i) Graph the two value of marginal product curves on the same graph (as in class and class notes) with the labour force on the horizontal axis. Correctly label the intercepts of the two curves on the horizontal and vertical axes. (Note that given the length of the horizontal axis either or both of the value of marginal product curves may not have a horizontal intercept.)

ii) Determine the equilibrium nominal wage and the labour force in manufacturing and food production.

iii) Determine the income of landowners, capitalists, and labour. What is GDP

iv) Determine the quantity of food and manufactures produced

Hi, I've been having a really hard time solving this question, could you possibly help me? I am trying to follow along with the solution that was posted in another document on CourseHero but I have not made it far. Thank you in advance!!