Select the correct answer from each drop-down menu. Fourteen-year old Eric wants to work during his school vacation. What time limits would apply to Eric on normal days to take up any work?
Eric may only work between
and
y during his school vacation,

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. what are the wage and the rental price of capital? the wage is equal to unit(s) of output and the rental price of capital is equal to unit(s) of output.