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Consider the following production function q100L08K04 .pdf

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Consider the following production function: q=100L0.8K0.4 Currently the wage rate (w) is $5.00 and the price of capial ( r is $5.00 If the firm is using 50 units of capital in production, how much labor should be employed to Labor input = units. (Enter a numeric response using a real number rounded to two decimal places).

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Consider the following production function: q=100L0.8K0.4 Currently the wage rate (w) is $5.00 and the price of capial ( r is $5.00 If the firm is using 50 units of capital in production, how much labor should be employed to Labor input = units. (Enter a numeric response using a real number rounded to two decimal places)

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Consider the following production function q100L08K04 .pdf

  • 1. Consider the following production function: q=100L0.8K0.4 Currently the wage rate (w) is $5.00 and the price of capial ( r is $5.00 If the firm is using 50 units of capital in production, how much labor should be employed to Labor input = units. (Enter a numeric response using a real number rounded to two decimal places)