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What fractions of income do capital

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Reference no: EM131638401

Suppose an economy's production function is Cobb-Douglas with parameter = 0.3.

a. What fractions of income do capital and labor receive?

b. Suppose that immigration increases the labor force by 10 percent. What happens to total output in percent? The rental price of capital? The real wage?

Reference no: EM131638401

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