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Questions are in the photos. Question 6 1 pts In the short run, shoe manufacturers can hire and fire workers, but cannot adjust their use
Questions are in the photos.
Question 6 1 pts In the short run, shoe manufacturers can hire and fire workers, but cannot adjust their use of capital (and therefore firms cannot enter or exit the market). Assume all manufacturers have the same production function. A new law increases wages for workers at shoe factories. In the short run, each firm's output: O Increases. Decreases. Stays the same. We cannot say without knowing the production function or cost function of the firms.AlphaBee's production function is given by f(k,I) = [ min(41,4k) jo.3. AlphaBee can sell its product at $44 per unit, can hire as many workers as necessary at wage w = $15, and use as much capital as necessary at a price r = $14. It does not face fixed costs. How many units does the firm produce? Hint: First, find AlphaBee's cost function. Enter a numerical value below. You may round to the second decimal if necessaryStep by Step Solution
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