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Find the factor demand for labor and the level of output

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A local firm producing cutlery has the following production function = ( 1, 2)=x1^1/2 x2^1/2, where x1 and x2 represents the labor and capital quantities respectively. The owner states that they employ 16 units of capital in the production process. Let the per-unit price of output be expressed by and the price of labor by 1. Find the factor demand for labor and the level of output it will produce.

Reference no: EM132519004

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