Question: 2. Given the production function Y = F(K, L) = AKL with a +B=1. If the supply of capital is equal to 100 (K =

2. Given the production function Y = F(K, L) =

2. Given the production function Y = F(K, L) = AKL with a +B=1. If the supply of capital is equal to 100 (K = 1000), the labor supply is equal to 50 (I = 500) and the productivity parameter is equal to 1 (A=1). Solve the production model. Show your work and be clear in the steps that you are taking. Highlight the correct answers. Points will be subtracted if variables are not reported or if wrong variables are reported

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