A firms production function is given by F(L,K) = L 1/4 K 1/4 . You also know

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A firms production function is given by F(L,K) = L^1/4K^1/4. You also know that wage rate is $1, the price of capital is $1, and the price of product is $54.

We are in the long-run. How much profits does the firm make in the long run when producing 6 units of output (Q=6)?

Posted Date: Jun 22, 2024 03:01 AM

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A firms production function is given by F(L,K) = L 1/4 K 1/4 . You also know

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