Miller borrows $300,000 to be paid off in an installment basis over three years. The loan payments are semiannual with the first payment due in six months, and annual interest is at 6%. What is the amount of each payment

Suppose the production function in an economy is y = k0.5l0.5, where k is the amount of capital and l is the amount of labor. the economy begins with 64 units of capital and 16 units of labor. use a calculator and equations in the chapter to find a numerical answer to each of the following questions. what are the wage and the rental price of capital? the wage is equal to unit(s) of output and the rental price of capital is equal to unit(s) of output.