A country's Cobb-Douglas production function is as follows: Y= 5K^(1/2)L^(1/2). If this country has 30,000 unit of capital and 700 workers, find the real wage approximately. Select one: a. 1.21 b. 0.85 C. 0.99 d. 0.55 e. 0.66 please just write answer don't try to explain to me

Microeconomics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter12: The Supply Of And Demand For Productive Resources
Section: Chapter Questions
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A country's Cobb-Douglas production function is as follows: Y= 5K^(1/2)L^(1/2). If this country has
30,000 unit of capital and 700 workers, find the real wage approximately.
Select one:
a. 1.21
b. 0.85
C. 0.99
d. 0.55
e. 0.66
please just write answer don't try to explain to me
Transcribed Image Text:A country's Cobb-Douglas production function is as follows: Y= 5K^(1/2)L^(1/2). If this country has 30,000 unit of capital and 700 workers, find the real wage approximately. Select one: a. 1.21 b. 0.85 C. 0.99 d. 0.55 e. 0.66 please just write answer don't try to explain to me
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