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A firm that only employs labor (L) has the following production function: f(L) = 20L?L2 where L is the firm's employment level. The price of

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A firm that only employs labor (L) has the following production function:

f(L) = 20L?L2

where L is the firm's employment level. The price of the output is normalized to 1 and the wage rate for labor (relative to the price of output) is w.

What is the effect of an increase in w on the firm's optimal employment level (dL/dw)?

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Question 11 (1 point} A firm that only.( employs labor [1) has the following production function: f(L) = 20L L2 where L is the firm's employment level. The price of the output is normalized to 1 and the wage rate for labor {relative to the price of output} is w. What is the effect of an increase in won the firm's optimal employment level (dL/o'w]? Your

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