Suppose that K doubles and A decreases by half. Construct a pair of well-labeled diagrams of equilibrium in the factor markets to show how the changes in A and K affect the supply of capital, the supply of labor, the real wage, and the real rental rate. Write down either in words or symbolically how the changes in K and A would affect output Y and consumption C.

On january 1, 2017, pharoah company issued 10-year, $2,020,000 face value, 6% bonds, at par. each $1,000 bond is convertible into 16 shares of pharoah common stock. pharoah’s net income in 2017 was $317,000, and its tax rate was 40%. the company had 97,000 shares of common stock outstanding throughout 2017. none of the bonds were converted in 2017. (a) compute diluted earnings per share for 2017. (round answer to 2 decimal places, e.g. $2.55.) diluted earnings per share