Question
Production function: Y=K 0.5 L 0.5 with K = 100 and L = 100. 1. compute Y 2. compute MPK and MPL 3. compute the
Production function:Y=K0.5L0.5with K = 100 and L = 100.
1. compute Y
2. compute MPK and MPL
3. compute the labor share of output 4. imagine L decreases to 50, compute the new level of output, new MPK and MPL
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International Business
Authors: John Daniels, Lee Radebaugh, Daniel Sullivan
15th edition
133457230, 978-0133457230
