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8. Michelle runs a factory that produces mugs. Her production function is given by q = LK. Michelle hires labor and rents capital in perfectly

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8. Michelle runs a factory that produces mugs. Her production function is given by q = LK. Michelle hires labor and rents capital in perfectly competitive markets where w = 1 and r = 64. (a) In the short-run, Michelle's capital stock is fixed at 1. Find an expression for Michelle's short-run supply curve. (b) Find an expression for Michelle's long-run supply curve

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