2 econ problems, economics, Microeconomics

2 econ problems, economics, Microeconomics

Assignment Help:

I have the answers to these two questions, but I need to know HOW to get these answers. Thanks.

Question 1
Suppose there are two goods beverage and pizza and two inputs land, T, and labor, L. Given atb=5014, atp=971, alb=2532, alp=1964,T=5807, and L=5018. What is the amount of pizza at the point of intersection between land and labor constraints. (Answer should have two decimal places).
Answer:(1.42)

Question 2 0
Suppose there are two goods, pizza and beverage. Suppose alp=5216, atp=959, alb=2514, atb=1924, Pp=10700, and Pb=11400. What is the equilibrium wage?
Answer:(1.27)

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