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A firm has a short-run production function defined by:
Q = -. 02L2 + 8L
What is the short run demand curve for labour (L) in terms of the market wage rate (w), if the firm can sell all its output at $5 per unit?
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Perfect competition has the following characteristics: 1. Large number of firms - There are a large number of firms in the market. Due to this each firm produces a very small fr
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