Assume That, in Autarky, an Economy Has 150 Workers and the MPLc

question 52

Essay

Assume that, in autarky, an economy has 150 workers and the MPLc is
two cars and the MPLb is five boats.Demonstrate how one can derive the
autarkic price of cars in this economy.

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Definitions:

Local Static Variables

Variables defined within a function that maintain their value between function calls and are initialized only once.

Existence

The fact or state of living or having objective reality.

Initialization

The process of assigning an initial value to a variable at the time of its creation.

Static Variables

Variables that retain their value between function calls and are local to the function block in which they are declared but their lifespan is the duration of the program.