a) If capital rents for $10 each and wages are $5 per hour, show that the short run total costs are: STC=1000 + .05q^2
b) how much will the firm produce at a price of $20 per bottle of brandy? How many labor hours will be hired per week? What profit will the firm make? Explain
This question was asked on Mar 15, 2010 and answered on Mar 15, 2010.
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