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Firms in this economy are competitors. They seek to maximize their profits. For this, they produce Y units of goods and services offered on the

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Firms in this economy are competitors. They seek to maximize their profits. For this, they produce Y units of goods and services offered on the goods and services market, using three production factors: the labor demanded in quantity Lat on the labor market on each date paid at the hourly wage rate real w., the capital which belongs to them and which is used at full capacity K. at each date t and from the land or land, which is rented to landowning households for a quantity Tat at each date t, at the rental rate hourly (land rental rate} R. 1-Write the maximization problem of the rm representative of the economy 2-Write the conditions of the first order] and interpret them properly 3-Deduce from Euler's Theorem (applied here on 3 variables} the level of equilibrium benefits

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