Penman Corporation showed Salaries and Wages Expense of $488,000 on its income statement. If the Salaries and Wages Payable account was $54,000 at the beginning of the year and $37,000 at the end of the year, how much cash was paid to employees

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.