Question: You are given the following short-run production function for the firm: Q = 24L (0.01)( L2 ), where L = number of workers hired

You are given the following short-run production function for the firm: Q = 24L – (0.01)( L2 ), where L = number of workers hired per day, Q = output per day. The firm is a perfect competitor in both the output & input (i.e. labour) markets. The price of output is $10.00 per unit and labour costs $20.00 per day, the number of workers hired per day by the firm will be:?

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