Suppose the production function is given by Y = K^(1/3)*L^(2/3), where K is the aggregate stock of physical capital, and
Posted: Thu May 19, 2022 10:12 am
Suppose the production function is given by
Y = K^(1/3)*L^(2/3), where K is the aggregate
stock of physical capital, and L is the number of
workers.
If each worker has 49 units of capital to work
with, what is output per worker equal to?
State your answer to 2 decimal places.
Y = K^(1/3)*L^(2/3), where K is the aggregate
stock of physical capital, and L is the number of
workers.
If each worker has 49 units of capital to work
with, what is output per worker equal to?
State your answer to 2 decimal places.