Question: The production function is F ( K , L ) = 1 0 0 K + 6 0 L . Here K is capital and

The production function is F (K, L)=100K +60 L. Here K is capital and L is labor. The real wage is denoted W/P. There are 600 units of capital available in the economy. The labor supply is perfectly inelastic: LS =900.

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