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Fishyland is a small country that focuses on her fishing industry. She has a production function of Y = 60L0.4K0.6 . Where L is labour

Fishyland is a small country that focuses on her fishing industry. She has a production function of

Y = 60L0.4K0.6 . Where L is labour and K is capital.

a. Calculate the real wage rate of labor.

b. Suppose the World Bank grants more fishing tools to Fishyland.

From the answer in (a), will a typical labor in Fishyland benefit from this? Explain.

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