How to derive an equation describing labor demand
If an economy can be described by the Cobb Douglass Production function Y= K^(1/3)L^(2/3) and k=1000 and L=1000, how can you derive an equation describing labor demand in this economy as a function of the real wage and capital stock?
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how can you derive an equation describing labor demand in this economy as a function of the real wage and capital stock?
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