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Using the Cobb-Douglas production function, tell how a rise in the quantity of Capital (K) would change the values below and explain why. i.the real
Using the Cobb-Douglas production function, tell how a rise in the quantity of Capital (K) would change the values below and explain why.
i.the real rental price of capital (R/P)
ii.real wages (W/P)
B.What determines real GDP (Y) ?
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