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Economics

The short-run production function of a profit maximize firm is given by f(l) = 6l2/3, where l is the amount of labor it uses. The cost per unit of labor is w = 6 and the price per unit of output is p = 3.

(i) How many units of labor will the firm hire?

(ii) How much outputs will the firm produce?

(iii) If the firm has no other costs, how much will its total profits be?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91230675

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