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Business, 05.03.2020 14:11 tabbywitherite84

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 64 units of capital and 16 units of labor. Use a calculator and equations in the chapter to find a numerical answer to each of the following questions. If a sudden immigration quadruples the size of the population, while the capital stock is unchanged, what is the new level of output? units

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Suppose the production function in an economy is Y = K0.5L0.5, where K is the amount of capital and...
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