Macroeconomics Question on Production Function

Question

Consider an economy where technology is characterised by the production function:
$Y = 50K^{0.4}L^{0.6}$
where, Y is output, K is capital, and L is labour.
Assuming perfect competition in the product market and in the factor markets, the share of total income paid to labour is equal to

Answer 1

Solution

The correct answer is (D): 0.6