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Suppose rms use skilled labor (H) and unskilled labor (L) to produce according to the following production function Q=3nnin{H,L} where Q is the output quantity.
Suppose rms use skilled labor (H) and unskilled labor (L) to produce according to the following production function Q=3nnin{H,L} where Q is the output quantity. The supply curve of skilled labor is given by H = my 0.5. And unskilled labor is supplied elastically at price nu, = 1, Output market is competitive and output price is 1. Input markets are competitive as well. Which of the following input combinations maximizes prot? (a) H=G,L=1 (h) H=G.5, L=ll5 (c) H=G.TE, L=O.75 (d) H=2.5, L=2.5 (e) H=2.5,L=1 (f) H=1,L=1 (g) H=3,L=0 (h) H:4,L=4
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