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Suppose a rm that produces output according to Y = sz. That is, the firm has no capital and produces output using only labour as
Suppose a rm that produces output according to Y = sz. That is, the firm has no capital and produces output using only labour as input. a. Specify and solve the rm's profit maximization problem. Real prot is 11: = If 2 > w, the rm would hire w workers. If 2
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