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Consider a firm with the following production function. Number of workers Number of items produced 0 0 1 12 2 21 3 29 4 35
Consider a firm with the following production function.
Number of workers Number of items produced
0 0
1 12
2 21
3 29
4 35
5 40
6 43
If each item sells for $30 and the nominal wage rate is $120, how many workers should the firm employ?
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