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Hi, I am struggling with this question. Could you please explain how to deal with this problem? How do I get to the answer? Kind

Hi,

I am struggling with this question. Could you please explain how to deal with this problem? How do I get to the answer?

Kind regards,

Famke

The figure below shows the labour markets of the United States (left) and Italy (right). The figure represents the situation in the labour market in the late 19th century. The dropping curves show the marginal product of labour. L refers to the amount of labour, W to the wages. Assume that, besides labour, there is a second factor of production, namely land.

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