Consider this short run production function q100l-lsup2, Ask an Expert

Economics

Consider this short run production function Q=100L-L². Where Q is output level and L is labour input. The price of output is 50 and labour cost 1200 per hour. How many hours will the firm use to maximize profits? What is the profit maximizing level of output?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91708589

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