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Business, 31.03.2021 19:20 BabyDino9415

Assume perfectly competitive factor and product markets. the product market demand and the supply functions are given to be p=10-0.125Q and p=0.5Q-10, respectively if the firm operating these markets has a product function of Qi=12Li-2Li^2 and the market wage rate is known to be Br.20, determine the optimal level of employment of labor for the firm . calculate the profit/loss of the firm if the fixed cost is Br.50[labor is the only variable cost]

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