(Answered) Output of lawn-care services measured in number of lawns

Economics

Output of lawn-care services, measured in number of lawns, depends on the hours of lawn maintenance labor, given a fixed capital stock, according to the production function: Q= 2(L^1/2). MPL is therefore 1/(L^1/2). Given price of lawn services is $10 per lawn, solve for the labor demand function.

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Macroeconomics, Economics

Category:- Macroeconomics
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