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NTU Examination papers - ( X Bb 2019 Quiz 1 with answers - X Toturial 3 (2019) (1).pdf X Tutorial Solution for Lecture X * Please help me with qn 1,

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NTU Examination papers - (
X
Bb 2019 Quiz 1 with answers -
X
Toturial 3 (2019) (1).pdf
X
Tutorial Solution for Lecture X
* Please help me with qn 1, fox
+
X
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QUESTION 3.1: Competative Equilibrium (12 marks)
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The production function of the representative firm is Y = AVKN . The marginal rate of
substitution of leisure (L) for consumption (C) has the following relationship:
. ..
New
MRS =
2C
31
Name
My Drive
Where T=G=0, L+N=h, and h=1,
LO
Computers
(a) What is the equilibrium quantity of labor? (5 marks.)
HISIVERSITY
(b) What is the equilibrium GDP and Consumption where A=2 and K=4? (3 marks)
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(c) What is the equilibrium dividend n where A=2 and K=4? (4 marks)
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5/5/2019
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