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What is the firm''s profit maximizing level of output

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A competitive firm has the short-run production function given by Q = 4L2 - 0.08L3 Assume the firm's fixed cost is $15,000, the labor cost (wage and benefits) is $70 per unit, and the price of the good in the market is $20.

(a) What is the firm's profit maximizing level of output?

(b) What is the firm's level of employment and its profit?

Reference no: EM13877407

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