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Suppose a firm needs to make 100 units of product. Suppose the production function is Q=K*L. Suppose it is the short run and K is
Suppose a firm needs to make 100 units of product. Suppose the production function is Q=K*L. Suppose it is the short run and K is fixed at 20. The optimal L that will achieve the quantity we need to produce with the least costs is what? Choose the right answer:
1) 20
2) 5
3) 10
4) We can't tell, because we do not know input prices
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