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3. Suppose that the production function for a producer in the short- run was: Q = 96VL Suppose also that the price of output was

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3. Suppose that the production function for a producer in the short- run was: Q = 96VL Suppose also that the price of output was P = 4 and the price of labor was w = 64, what would be the amount of labor that maximizes profit for this producer? What would be the amount of output? Subject

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