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Solve clearly 1. A monopolist has a production function, Q = AL KB with 0 1. A monopolist has a production function, Q = ALOIC
Solve clearly
1. A monopolist has a production function, Q = ALOIC with O < -- < 1. The cost of capital is r, the wage rate is w, and the monopolist takes both as given. The demand function for the monopolist is 1 -F exp {p} What is the long-run demand for labor?
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College Mathematics for Business Economics Life Sciences and Social Sciences
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
12th edition
321614003, 978-0321614001
