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Plz help answering the questions only answers are fine Question 9 1.67 pts Suppose that production function is Y = K1/3(AN)2/3 and competitive rms hire
Plz help answering the questions only answers are fine
Question 9 1.67 pts Suppose that production function is Y = K1/3(AN)2/3 and competitive rms hire capital and labor to produce output. Let r be the return paid to capital and w be the real wage paid to labor. Which of the following is true? 0 a prot-maximizing rm hires capital and labor until average products equal factor prices 0 labor income share is 1/3 0 real return to capital r grows at the rate of productivity growth 0 real wages w grows at the rate of productivity growth Question 10 1.67 pts In the absence of technological progress, a reduction in the saving rate will not affect which of the following variables in the long run in the Solow model? 0 output per worker O the growth rate of output per worker O the amount of capital in the economy 0 capital per workerStep by Step Solution
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