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Consider a perfectly competitive, profit-maximizing firm facing the following marginal product of labor function and prices: MPL = 0.

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Consider a perfectly competitive, profit-maximizing firm facing the following marginal product of labor function and prices: MPL = 0.5a(K/L)1/2 W = 40 R = 60 P = 10 If total factor productivity (A) is 50 and the firm is employing 16 units of capital (K=16), how much labor (L) would the firm demand?

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Consider a perfectly competitive, profit-maximizing firm facing the following marginal product of labor function and prices: MPL = 0.5a(K/L)1/2 W = 40 R = 60 P = 10 If total factor productivity (A) is 50 and the firm is employing 16 units of capital (K=16), how much labor (L) would the firm demand?

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