Suppose That the Production Function for the Economy Is: Y

Multiple Choice

Suppose that the production function for the economy is: Y = AK¹/⁴ᴸ³/⁴.Assume that real GDP is $8000 billion,capital stock is $32 000 billion,and the labour supply is 120 million (or 0.120 billion) workers.The value of the marginal product of labour is ________ per worker.

A) $30 000
B) $50 000
C) $66 667
D) $90 000