Question
perfectly competitive firm makers price of output of 2$ have a production function Q=10K^(1/2)L^(1/2) fixed amount of capital K=25. a. equation of demand curve for
perfectly competitive firm makers price of output of 2$ have a production function Q=10K^(1/2)L^(1/2) fixed amount of capital K=25.
a. equation of demand curve for labor.
b. 40 firms in the market with same production function and labor supply equation L=100w, equilibrium wage rate in the market?
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Business A Changing World
Authors: O. C. Ferrell, Geoffrey Hirt, Linda Ferrell
10th edition
1259179397, 978-1259179396
