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A firm operates in a perfectly competitive output market and a perfectly competitive input market. The production function for the firm is: 1 1 f(N,K)

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A firm operates in a perfectly competitive output market and a perfectly competitive input market. The production function for the firm is: 1 1 f(N,K) = 4NEK3 In the shortrun the level of capital is fixed at 27. If the price of output is 12, and wage rate is $10$, how many workers should the firm hire? Draw a diagram of your solution

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