Question: I need answer typing clear urjent The production function for a competitive firm is Q = K .5 L .5 . The firm sells its
I need answer typing clear urjent
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 maximum profits are
a)5
b)10
c)15
d)none of the statement
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