In June 2024
Answer to Question #283493 in Economics for Messi
The owner of a car wash is trying to decide on the number of people to employ based on
the following short-run production function:
Q 5 6L 2 0.5L
The short-run production function defines the relationship between two variable factors (labor and capital) and the output.
The output is maximized, when MPL/MPK = PL/Pk.
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