Question
A firm faces the following production function: y(k, l)=sqrt(k)+sqrt(l) The output price is equal to 6, and the input price of labor is equal to
A firm faces the following production function: y(k, l)=sqrt(k)+sqrt(l)
The output price is equal to 6, and the input price of labor is equal to 4.
If the output price increases to 8, by how much does the optimal level of labor input increase?
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Principles Of Microeconomics
Authors: Robert Frank
7th Edition
1260111083, 9781260111088
