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.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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