(Answered) Consider the following informationcomputers

Economics

Consider the following information:

Computers: Sales revenue = Pc*Qc = 150

Payments to labor = W*Lc = 75

Payments to capital = Rk*K = 75

Barley: Sales revenue = Pb*Qb = 150

Payments to labor = W*Lb = 70

Payments to land = Rt*T = 80

Holding the price of computers constant, suppose the percentage increase in the price of barley is 10% and the percentage increase in wage is 5%.

The effect of the increase in the price of barley on the rental price of land is then about?

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Macroeconomics, Economics

Category:- Macroeconomics
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