=+i. Use the profit function in equation (16.32) of the text to determine the profit of the
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=+i. Use the profit function in equation (16.32) of the text to determine the profit of the firm (given the equilibrium wage and given the parameter values used here). Compare this to the equilibrium land rent you derived in (e). Explain your result intuitively.
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Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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