Solve Input demand and input supply Item1 : Good Q , L labor ,W wage ,A level of technology Q=A0K^alpha L^beta Q=80-P A0=1 K =36 unit L =40+0.5w alpha =0.5 beta =0.5 1. From the condition and price of the labor market equilibrium quantity in item 1, assuming that the price of good Q increases by 10% of the price of P0 Show the change in the price of the labor factor. and the amount of labor factor to be traded in the labor market And along with calculating the income size of both buyers and sellers, labor factors that should be relied on 2.Summarize the theoretical principles of the properties of demand. in factors of production and the factors affecting the change in the price of production factors are obtained when the price of production changes, the quantity of capital k changes, and the level of technology. as well as the supply characteristics of the changing factors
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