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In an Economy with Production Function Y = 1

Question 28

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In an economy with production function Y = 1.5 × In an economy with production function Y = 1.5 × ,K = 343,and L = 512.If factor markets are in equilibrium,then the rental price of capital is (approximately) ________,and the real wage is (approximately) ________. A) 0.5;0.8 B) 7;8 C) 0.9;1.35 D) 1.4;0.4 E) 0.6;0.9
In an economy with production function Y = 1.5 × ,K = 343,and L = 512.If factor markets are in equilibrium,then the rental price of capital is (approximately) ________,and the real wage is (approximately) ________. A) 0.5;0.8 B) 7;8 C) 0.9;1.35 D) 1.4;0.4 E) 0.6;0.9
,K = 343,and L = 512.If factor markets are in equilibrium,then the rental price of capital is (approximately) ________,and the real wage is (approximately) ________.


A) 0.5;0.8
B) 7;8
C) 0.9;1.35
D) 1.4;0.4
E) 0.6;0.9

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