Acme is sole supplier of security systems in product market, Ask an Expert

Economics

Acme is sole supplier of security systems in product market and sole employer of locksmiths in the labor market. The demand curve for security systems is given by P = 100 - Q. The short run production function is given by Q = 4L and the supply curve for locksmiths is given by W = 40 + 2L. I am having trouble finding how many locksmiths Acme will hire and at what wage.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9295097

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