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4 (3 points) Suppose a firm's technology is represented by the following Cobb-Douglas production function: F(K, N^(d) ) =zKA(Itheta )(N^(d) )^(1-theta ) where theta ={t}
4 (3 points) Suppose a firm's technology is represented by the following Cobb-Douglas production function: F(K, N^(d) ) =zKA(Itheta )(N^(d) )^(1-\theta ) where \theta ={t} and the total factor productivity is 1.5. The firm OWns K=4 units of capital. The firm has to hire labour in competitive markets where real wage rate is equal to 1.5 (in terms of final consumption good). Choose the firm's maximum profits and the optimum amount of labour that maximizes its profit.Suppose a firms technology is represented by the Cobb-Douglas production function
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