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Question 7 (1 point) A firm has a production function q=f(L, K), where L and K are the two inputs and q is the output. T
Posted: Wed Jul 06, 2022 6:20 am
by answerhappygod
- Question 7 1 Point A Firm Has A Production Function Q F L K Where L And K Are The Two Inputs And Q Is The Output T 1 (23.24 KiB) Viewed 12 times
Question 7 (1 point) A firm has a production function q=f(L, K), where L and K are the two inputs and q is the output. The specific production function is given by q=AVLK, where A is some positive constant. Currently, the firm producing q= 2788 units, using the same amount of Land K. The price of L is $4 and the price of K is $36, and A is 4. Then the firm should employ. units of L.