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Hello, I would like the answer to this question please. Question V Consider an economy in which the production function of the representative rm is

Hello, I would like the answer to this question please.

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Question V Consider an economy in which the production function of the representative rm is given by Y = thK, N}. with FEEN} = (KW + W2)\". and z = 0.5. Assume h=24 and the rm commits to pay a wage rate at = 1.5 to the worker for each unit of time worked. 1. Does the production function have the constant returns to scale property? 2. Assuming the rm operates with a capital K=L5 in the short run, does the production function display the law of decreasing marginal product? 3. nd the optimal demand for N. ti. Assume the government decides to prevent any rm from polluting. The rm discovered that polluting can be avoided at a cost of 0.25 units of output per unit of output produced. To reduce the cost of reducing pollution, the government decides to pay the rm a given amount a for each hired worker. Calculate the s that will incite the rm to hire the number of workers found in Question 3 assuming it: = 1.5

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