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A firm has the following production function q=(100kL)/(K L) . The firm has 10 units of capital, and the price of the firm's output is
A firm has the following production function q=(100kL)/(K L) . The firm has 10 units of capital, and the price of the firm's output is 5 per unit. What is the highest wage at which the firm will hire any labor? Hint: Use the graph of VMPL and VAPL to guide you
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