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Consider a price-taking firm that uses only one input (labour) to produce a single output good according to the production functionSuppose that the cost per

Consider a price-taking firm that uses only one input (labour) to produce a single output good according to the production functionSuppose that the cost per unit of labour is $16 and the price of output is $4. How many units of labour will the firm hire?

a.16

b.8

c.4

d.1

e.None of the above.

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