Question: Please read each question very carefully to ensure your full comprehension of the question. Question 1 (25 points): An economy can produce good 1 using

Please read each question very carefully to ensure your full comprehension of the question.

Question 1 (25 points):

An economy can produce good 1 using labour and capital and good 2 using labour and land. The total supply of labour is 100 units. Given the supply of capital and land, the marginal products of labour for the two goods are as follows:

Please read each question very carefully to ensure your full comprehension of

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