Suppose the production function in an economy is Y = K0.5L0.5, where K is the amount of capital and L is the amount of labor. The economy begins with 16 units of capital and 25 units of labor.

Round answers to two places after the decimal when necessary.

d.If a sudden immigration quadruples the size of the population, while the capital stock is unchanged, what is the new level of output?

new output:

units

e.What is the new wage and rental price of labor?

new wage:

unit(s) of output

new rental price:

unit(s) of output

f.What is the new share of output labor receives?

share out output to labor:

%