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For the production function Q = K%251L%75, the MPL = 0.75K%25L~925 and the firm is stuck with K = 40. The price of the good
For the production function Q = K%251L%75, the MPL = 0.75K%25L~925 and the firm is stuck with K = 40. The price of the good is P = 8. The wage is W = 2. (a) What is the profit-maximizing number of workers? (b) What is the firm's output? What are its units? (c) What is the firm's revenue? What are its units? (c) Suppose the firm is making zero profit. Find the firm's total costs and its capital costs
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