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Assume a firm has production function given by F(K, L) = K/2L/2. In the short run, assume capital is fixed at K = 100
Assume a firm has production function given by F(K, L) = K/2L/2. In the short run, assume capital is fixed at K = 100 (a) What is the firm's cost function? (b) What is the profit maximizing quantity when w= 10, v = 5, and the firm operates in a competitive market with price p = 100? (c) Would this firm want to stay in the market in the long run?
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
