Question
Suppose this perfectly competitively firm horizontal demand curve with p=$48, calculate the quantity this firm will decide to produce. Find the amount of L and
Suppose this perfectly competitively firm horizontal demand curve with p=$48, calculate the quantity this firm will decide to produce. Find the amount of L and K the firm will hire. Is this firm making a profit or loss, how much it it? q=L^0.5+K^0.5, assuming r=w=$8.
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Modern Principles of Economics
Authors: Tyler Cowen, Alex Tabarrok
3rd edition
1429278390, 978-1429278416, 1429278412, 978-1429278393
