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Suppose a firm assumes the following production function: Log Q = 2.08 + .6 log K + .8 log L
a). Currently, the firm hires 10,000 workers and employs 50 units of capital. The "wage" of capital and labor are $500 and $800 respectively, what would you suggest to the firm's mix of labor and capital if it produces 2,000,000 units?
b). Is this an example, of a Cobb-Douglas Production function?
c). would you suggest this firm merge with similar firms? Explain.
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