Suppose that the following Cobb-Douglas production function represents the economy of Chile: Y = F1K, L2 =
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Suppose that the following Cobb-Douglas production function represents the economy of Chile: Y = F1K, L2 = AK0.4 L0.6. Assuming Chile’s national income equals $170 billion, calculate real labor income and real capital income.
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Share of total income 0.65 0.35 Labor income share Capital income share Time
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