3 If a firms short-run production function is f(L) = 2L1/2, the price of output is p...
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3 If a firm’s short-run production function is f(L) = 2L1/2, the price of output is p = 1,000, and the market wage of workers is w = 100, determine the profit-maximizing number of workers the firm will hire. Be sure to check the second-order condition.
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Related Book For 
Essentials Of Business Communication
ISBN: 9780176721244
9th Canadian Edition
Authors: Richard Almonte, Mary Guffey, Dana Loewy
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