Consider a firm which produces q units of output using L units of labour and whose supply function is given by q* = 14p/
Posted: Wed Mar 09, 2022 8:35 am
Consider a firm which produces q units of output using L units
of labour and whose supply function is given by q* = 14p/w where p
denotes the price of output and w denotes the price of labour. What
is the change in the profit of the firm if the price of output
changes from p= 1 to p = 53 assuming the price of labour is w
=5？
of labour and whose supply function is given by q* = 14p/w where p
denotes the price of output and w denotes the price of labour. What
is the change in the profit of the firm if the price of output
changes from p= 1 to p = 53 assuming the price of labour is w
=5？