Suppose that a firm is producing in the short run with output given by: Q=86L-L² The firm hires labor at a wage of $37 per hour and sells the good in a competitive market at P = $14 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=86L-L² The firm hires labor at a wage of $37 per hour and sells the good in a competitive market at P = $14 per unit. Find the firm's optimal use of labor. Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.
Chapter10: Cost Functions
Section: Chapter Questions
Problem 10.4P
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![Suppose that a firm is producing in the short run with output given by:
Q=86L-L²
The firm hires labor at a wage of $37 per hour and sells the good in a
competitive market at P = $14 per unit. Find the firm's optimal use of
labor.
Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F65b2d362-ec84-4fe6-89db-4b22f6064322%2F36028b3d-f3d6-423b-9d5e-60aad36c3802%2F20y3ds4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose that a firm is producing in the short run with output given by:
Q=86L-L²
The firm hires labor at a wage of $37 per hour and sells the good in a
competitive market at P = $14 per unit. Find the firm's optimal use of
labor.
Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.
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