Question
Q=25*L 0.2 *K .3 The wage (cost of labor) is $10 per labor unit and the rent (cost of capital) is $20 per capital unit.
Q=25*L0.2*K.3
The wage (cost of labor) is $10 per labor unit and the rent (cost of capital) is $20 per capital unit. You have been given the following combinations of Labor and Capital (restrict your analysis to these).
| Q | L | K |
| 1000 | 1700 | 1537 |
| 1000 | 1800 | 1480 |
| 1000 | 1900 | 1429 |
| 1000 | 2000 | 1380 |
| 1000 | 2100 | 1335 |
Calculate MPLWage (marginal product of labor divided by wage) at four (4) decimal places.
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Commerce And Coalitions How Trade Affects Domestic Political Alignments
Authors: Ronald Rogowski
1st Edition
0691219435, 9780691219431
