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question 10 Bob's Burger Shack currently employs 100 workers. The own-wage elasticity labor demand is 17 = -1.5 . If wages fall 10%, crudely estimate

question 10

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Bob's Burger Shack currently employs 100 workers. The own-wage elasticity labor demand is 17 = -1.5 . If wages fall 10%, crudely estimate the new level of workers employed.Consider a competitive firm in the short run. The price of output is $2,400/unit. The wage rate is $5. The marginal product of labor is: M PL = 0.5 L Find the profit-maximizing amount of labor to hire

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