Finding number of labor, Acme is sole supplier of security

Finding number of labor

Reference no: EM1369790

Acme is sole supplier of security systems in product market and sole employer of locksmiths in the labor market. The demand curve for security systems is given by P = 100 - Q. The short run production function is given by Q = 4L and the supply curve for locksmiths is given by W = 40 + 2L. I am having trouble finding how many locksmiths Acme will hire and at what wage.

Reference no: EM1369790

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Finding number of labor : Acme is sole supplier of security systems in product market and sole employer of locksmiths in the labor market. The demand curve for security systems is given by P=100-Q.

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