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The following is a firms production function: Q=12L 2 - 0.5L 3 where Q: level of output L: number of workers The maximum output occurs
The following is a firms production function:
Q=12L2 - 0.5L3
where
Q: level of output
L: number of workers
The maximum output occurs when the firm hires _________ workers.
a. 0.
b. 8.
c. 16.
d. 24.
e. None of the above.
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