firm has the production function q=L2K The wage rate is w=55 and the rental rate is r=44. In the long run, what is the optimal quantity of labor to produce q=1,618? Round your answer to the nearest whole number
firm has the production function q=L2K The wage rate is w=55 and the rental rate is r=44. In the long run, what is the optimal quantity of labor to produce q=1,618? Round your answer to the nearest whole number
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 17PAE
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A firm has the production function q=L2K The wage rate is w=55 and the rental rate is r=44. In the long run, what is the optimal quantity of labor to produce q=1,618? Round your answer to the nearest whole number
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