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Suppose that a firm uses both labor ( L ) and capital ( K ) as inputs and has the long-run production function Q =F(L,K)=L
Suppose that a firm uses both labor (L) and capital (K) as inputs and has the long-run production function
Q=F(L,K)=L x (square root of L + K)
Suppose it's capital is fixed at K= 1 in the short run.
A.) How much does the firm produce in the short run if it hires one worker?
B.) How much does it produce in the short run if it hires two workers?
C.) How much does it produce in the short run if it hires three workers?
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