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Derive the firm labor demand function

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Consider a monopolist that only hires one input, labor, to produce output. The monopolist's demand curve is p = 100 - q, its production function is q = L 0.5 , and the price of labor is w. (The labor market is competitive however.) Derive the firm's labor demand function, which is a function of w. If w = 24, how many units of labor will it employ?

Reference no: EM132299119

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