81 F Mostly sunny Page 1 c. Assume that the Covid-19 pandemic reduces the labor force to L = 81 and makes consumers cautious so that the new consumption function is C = 240 + 0.8(YT). Solve for the new real GDP level, marginal product of capital, marginal product of labor. Find the equilibrium real interest rate and show the shifts in the goods & service market. Q Search hp
81 F Mostly sunny Page 1 c. Assume that the Covid-19 pandemic reduces the labor force to L = 81 and makes consumers cautious so that the new consumption function is C = 240 + 0.8(YT). Solve for the new real GDP level, marginal product of capital, marginal product of labor. Find the equilibrium real interest rate and show the shifts in the goods & service market. Q Search hp
Chapter10: Consumer Choice Theory
Section: Chapter Questions
Problem 10P
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