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Consider a perfectly competitive economy with a production function latex: y = \bar{a} k^{1/3} l^{2/3}y = a ¯ k 1 / 3 l 2 / 3. there are 27 workers who produce cream cheese (a numéraire good) with 125 units of capital. if the productivity parameter is equal to 1 and the economy produces 40 tons of cream cheese in equilibrium, what is the sum of the total payments to capital and labor?
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Consider a perfectly competitive economy with a production function latex: y = \bar{a} k^{1/3} l^{2...
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