Q(L, K) 50K?L2, where K is capital and L is labour. The marginal products are MPL = 50 G) KSL-2, and Mh-50 G) KFLī. What is the long run profit maximizing output, the number of haircuts in the long run?

Q(L, K) 50K?L2, where K is capital and L is labour. The marginal products are MPL = 50 G) KSL-2, and Mh-50 G) KFLī. What is the long run profit maximizing output, the number of haircuts in the long run?

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter7: Production And Cost In The Firm

Section: Chapter Questions

Problem 3.8P

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please help

Q(L, K) 50K?L2, where K is capital and L is labour. The marginal products are
MPL = 50 G) KSL-2, and Mh-50 G) KFLī.
What is the long run profit maximizing output, the number of haircuts in the
long run?

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