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Please help me. Given a production function for a rm producing in a competitive industry of: q=q/L> Given a production function for a firm producing
Please help me.
Given a production function for a firm producing in a competitive industry of: where K (held constant) = 400 units, competitive price = $10, and the wage rate determined in a competitive labor market equals $20, find the optimal quantity of labor. The optimal quantity of labor is (Round your response to two decimal places.)
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