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Assume that a firm has the following short-run production function: q = 10L^0.5 and that the market wage rate is 4.
a. Derive the equations for marginal and average product of labor.
b. Derive the equations for the firm’s short-run marginal and average variable cost curves.
c. What is the equation for the firm’s short-run supply curve?
q.units of labor marginal revenueproduct0 na1 302 243 184 155 126 10assume a firm is a monopsonist that can hire its
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