B. False. More real-world, relevant and important ideas to keep in mind when shopping for shoes and clothes are the associated quality of the manufacturer, which could be a brand name. Also, of utmost importance is the overall quality of the product with relation to its cost. The size of the item is also important. Do not buy an overpriced item, that does not fit properly and is made of cheap materials that quickly break.
Take 40 over a 100 as a fraction and 3000 over 1 as a fraction and multiply them. 3000 multiply by 40 is =120000 and divide that by 100 would be 1200
$1200
Answer:
a) Y = 500
b) Wages: 2.5
Rental price: 2.5
c) labor Share of output: 0.370511713 = 37.05%
Explanation:

if K = 100 and L = 100


Y = 500
wages: marginal product of labor = value of an extra unit of labor
dY/dL (slope of the income function considering K constant while L variable)





With K = 100 and L = 100

Y' = 2.5
rental: marginal product of land = value of an extra unit of land
dY/dK (slope of the income function considering K variable while L constant)



L = 100 K = 100

Y' = 2.5
c) we use logarithmic properties:



50 was the land while 10 the labor
2.698970004 = 1.698970004 + 1
share of output to labor: 1/2.698970004 = 0.370511713
<span>The Gini ratio for lifetime income is less than the Gini ratio for annual income.</span>