Business, 20.12.2021 08:40 SoyAmbia

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.

please explain in details

Answers: 2

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The production function for a competitive firm is Q = K.5L.5. The firm sells its output at a price...

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