The owner of the Hughes Car Wash believes that the relationship between the number of cars washed
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Question:
The owner of the Hughes Car Wash believes that the relationship between the number of cars washed and labor input iswhereQis the number of cars washed per hour andLis the number of people employed per hour. Currently Hughes employs six people, and the hourly wage rate for each person employed is $4.5. The cost of other inputs like water is trivial; hence, they are ignored. What is the price of car wash ifL=6 happens to be indeed the optimal quantity to employ?
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