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Q: In 2013, the demand for labour was W = 600 3L, supply of labour was W = 100 + - 10L. In 2013,
Q: In 2013, the demand for labour was W = 600 3L, supply of labour was W = 100 + - 10L. In 2013, aggregate production function was Y=1000VKVL In 2014, higher productivity increased production function to Y = 1200VKVL, and labour demand changed to W = 700 - 3L In 2013 and in 2014, K = 590 A: Output per worker in 2013 (Y/L) Output per worker in 2014 (Y/L)
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