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The Hoosier economy has the production function: Y = A F (K, N) = 6 (K)...

The Hoosier economy has the production function:

Y = A F (K, N) = 6 (K) 0.5 (N) 0.5

   The capital is K = 64, and the labor demanded is N = 25;

      the marginal product of labor is MPN = 3 K1/2/ N1/2

the marginal product of capital is MPK = 3 N1/2/ K1/2

  1. What is the GDP?
  2. What is the labor demand function?
  3. What is the real wage?                   
  4. What is the total income to labor?
  5. What is the total income to capital owners?
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