Labour 300 Labour 600 Labour 900 Physical Capital Year 1 800 Answer 800 800 Physical Capital Year 2 1000 1000 1000 Physical Capital Year 3 1200 1200 1200 Using the table and the aggregate production function: Y/L=80(K/L)0.5 Calculate the output per worker if the labour is held constant at 600 and the physical capital is in year 3. *** Round your answer to the nearest whole number***

Labour 300 Labour 600 Labour 900 Physical Capital Year 1 800 Answer 800 800 Physical Capital Year 2 1000 1000 1000 Physical Capital Year 3 1200 1200 1200 Using the table and the aggregate production function: Y/L=80(K/L)0.5 Calculate the output per worker if the labour is held constant at 600 and the physical capital is in year 3. * Round your answer to the nearest whole number*

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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