How many units of labor should be employed? b. how, Ask an Expert

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Given the following long-run production function: Q = .8 K + 20 L - .04 L2 The firm plans to produce 2,000 units of output. The price of labor is $15 per unit. The price of capital is $1 per unit. a. How many units of labor should be employed? b. How many units of capital should be employed? c. What would be the total cost of production?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9440210

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