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Let f(L_A)=C (L_A)^1/3. Let total available labor be 1000, 20% of which is employed in industry. Suppose the price of the agricultural good is $1.
Let f(L_A)=C (L_A)^1/3. Let total available labor be 1000, 20% of which is employed in industry. Suppose the price of the agricultural good is $1. The wage in the rural sector is $2. Find the value of C such that the agricultural surplus is twice as large as the average agricultural surplus.
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