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Show that if this is true (ie that both factors of production are
Show that if this is true (ie that both factors of production are 'rewarded' according to their marginal products) and we add together the total value of real income to all units of labour and the total value of real income to all units of capital, that sum will be exactly equal to the total level of real output in this economy. Using The Cobb-Douglas Production Function.
This question was answered on: Feb 21, 2020
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