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The Production Function for a Competitive Firm Is Q =

Question 86

Multiple Choice

The production function for a competitive firm is Q = K.5L.5.The firm sells its output at a price of $10,and can hire labor at a wage of $5.Capital is fixed at one unit.The profit-maximizing quantity of labor is:


A) 2/5.
B) 1.
C) 10.
D) None of the answers are correct.

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