If the short run production function is given by q=(1/10)lnL and the price at which the good is sold is 100 then the demand for labor L=.......... Group of answer choices a. 1/w b. 100/w c. 10/w d. 50/w e, None of the above

If the short run production function is given by q=(1/10)lnL and the price at which the good is sold is 100 then the demand for labor L=.......... Group of answer choices a. 1/w b. 100/w c. 10/w d. 50/w e, None of the above

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 3SQ

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Question

If the short run production function is given by q=(1/10)lnL and the price at which the good is sold is 100 then the demand for labor L=..........

Group of answer choices

a. 1/w

b. 100/w

c. 10/w

d. 50/w

e, None of the above

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