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Calculate the firm labor demand

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Calculate the firm's labor demand for the following production functions.  Assume that output is 100 and the rental cost of capital is 1.  In each of the following cases, calculate the amount of labor the firm would use when the wage rate is 1, 2 and 3.

a. Q = Min(K, 2L)

b. Q = K + 2L

c. Q =  L.5K.5

Reference no: EM131224679

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