Consider an economy with the following Cobb-Douglass production function: Y=5K1/3L2/3. The economy has 140000 units of capital and a labor force of 7000 workers. Assuming that factor prices adjust to equilibrate supply and demand, calculate the real wage, total output, and the total amount earned by workers.

Your father's employer was just acquired, and he was given a severance payment of $375,000, which he invested at a 7.5% annual rate. he now plans to retire, and he wants to withdraw $35,000 at the end of each year, starting at the end of this year. how many years will it take to exhaust his funds, i.e., run the account down to zero? a. 22.50 b. 23.63 c. 24.81 d. 26.05 e. 27.35