Bens bonanza is a firm in this competitive market

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Reference no: EM131389004

Ben's Bonanza is a firm in this competitive market for x. The firm's production function is x = <^1/4 L^1/2, where K = number of units of capital employed and L = number of units of labor employed. The trice of both inputs is 1. In the short run, assuming the firm has only 81 units of capital with which to work, show that the firm's short run profits are approximately 146.

Reference no: EM131389004

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