Question: Question 1 ( 1 point ) Saved Consider two economies: ALPHA AND BETA. Both economies have 2 units of capital. Suppose the production function in
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Consider two economies: ALPHA AND BETA. Both economies have units of capital.
Suppose the production function in ALPHA is
where is the amount of capital and is the amount of labor.
Suppose the production function in BETA is
where is the amount of capital and is the amount of labor.
Calculate output Y and marginal product of labor MPL for each economy by completing the followi table. Round your numbers to ONE DECIMAL.
tableLALPHA,BETAYMPLYMPL
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