Monday, November 21, 2005
Problem Set 2
Matt: Oh my god, I think I've figured it out. You see, to get total labor we multiply output in both industries by their respective marginal product of labor inverses. To get output we just plug in labor and land demand into the production function!
Matthias: Hmmmmm, I think that could get a bit ugly.
Liz: But we'll hope it comes out pretty!
Matt: Well, the truth is that sometimes before you can ask out the good-looking girl, you have to date her ugly sister first.
Matthias: Matt, you really should go into teaching.
Matthias: Hmmmmm, I think that could get a bit ugly.
Liz: But we'll hope it comes out pretty!
Matt: Well, the truth is that sometimes before you can ask out the good-looking girl, you have to date her ugly sister first.
Matthias: Matt, you really should go into teaching.
