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Arm uses labor (L) and capital (K) to produce rocking chairs (Q) with the following production function Q=LK. The wage (w) is $10 and the
Arm uses labor (L) and capital (K) to produce rocking chairs (Q) with the following production function Q=LK. The wage (w) is $10 and the rate of capital (r) is $20. The target number of rocking chairs to produce is 800. Enter the number for the the optimal amount of L in the long run? Enter the number for the the optimal amount of K in the long run
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