Given the following Q=100k0.5 L0.8 C=12000 W=400=500 Determine the quantity of labour and capital Determine the output level

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Q: Question 5 A manager hires labour and rents capital equipment in a very competitive market.…

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Q: Suppose the cost function is given by C(ω, υ, q) = qω^(1/3)υ^(2/3) (a) Use Shepard’s Lemma to find…

A: A)

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A:

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Labor Force Participation Rate analysis

The labor force participation rate analysis calculates the percentage of the working-age population either employed or actively seeking work. It can be anyone in the age category of 16 to 64, on the condition that they are not institutionalized. A high labor force participation rate shows that more people are employed and contributing their wages to the economy, making it a healthy economy. It also shows that there are more people actively looking for employment leading to more hiring options for employers. On the other hand, a low labor force participation rate shows a low number of people employed or looking for work. This leads to an economic setback with fewer wages going into the economy. In such a scenario, employers might have to cut back on profits, lay off employees, or stop the process of hiring.