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1 1. A firm in a competitive labour market faces an equilibrium wage of $16 per hour. It sells its product for $0.40 each. The

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1 1. A firm in a competitive labour market faces an equilibrium wage of $16 per hour. It sells its product for $0.40 each. The firm's production function is as follows: Labour Quantity 0 0 - 120 200 W N 260 A 300 330 How many workers will the firm hire? 2 C. b. 3 Continued on Page

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