Discuss two problems that arise in estimating cost curves

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1. Discuss two problems that arise in estimating cost curves.

2. Suppose that the marginal product of labor is: MP = 100 - L, where L is the number of workers hired. You can sell the product in the marketplace for $50 per unit, and the wage rate for labor is $100. How many workers should you hire?

Reference no: EM13921649

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