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The production function is Y = 10N. Households utility function is ln(c)+ 2ln(l). Denote the wage rate by w and assume total time endowment of...

The production function is Y = 10N. Households utility function is ln(c)+ 2ln(l). Denote the wage rate by w and assume total time endowment of household is 1.
Find the firm's labor demand and supply functions and the equilibrium of the economy.

This question was asked on Mar 23, 2010.

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