Suppose that a firm is producing in the short run with output given by: Q = 68L-L2 The firm hires labor at a wage of $25 per hour and sells the good in a competitive market at P = $21 per unit. Find the firm's optimal use of labor. Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.

Suppose that a firm is producing in the short run with output given by: Q = 68L-L2 The firm hires labor at a wage of $25 per hour and sells the good in a competitive market at P = $21 per unit. Find the firm's optimal use of labor. Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.

Principles of Microeconomics (MindTap Course List)

8th Edition

ISBN:9781305971493

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter18: The Markets For The Factor Of Production

Section: Chapter Questions

Problem 3PA

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Suppose that a firm is producing in the short run with output given by:
Q = 68L-L2
The firm hires labor at a wage of $25 per hour and sells the good in a
competitive market at P = $21 per unit. Find the firm's optimal use of
labor.
Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.

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