Real gdp per person in both alpha and omega is equal to $2,000. over the next 100 years, real gdp per person grows at a 1 percent annual rate in alpha and at a 2 percent annual rate in omega. after 100 years, real gdp per person in alpha is smaller than real gdp per person in omega.

(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?