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Suppose the hourly wage is $10 and the price of each unit of capital is $25. The price of output is constant at $50 per unit. The production function is F(L,K)=L^1/2*K^1/2 If the current capital stock is fixed at 1,600 units, how much labor should the firm employ in the
short run?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9499670

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