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In a Cobb-Douglas Production function,Y=KL1,= 1/3, 1= 2/3 and capital's share of income is 50 (a)Y= 150 (b) labor's share of income is 100 (c)Y/K=
- In a Cobb-Douglas Production function,Y=KL1,= 1/3, 1= 2/3 and capital's share of income is 50
- (a)Y= 150
- (b) labor's share of income is 100
- (c)Y/K= 150 (d)MPL=100
- (e) both a and b (f) both c and d
- (g) all of the above
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Principles of Economics
Authors: N. Gregory Mankiw
8th edition
1305585127, 978-1305971493, 978-1337516860, 1337516864, 978-0357539200, 978-1305585126
