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Title: Suppose there are ten identical manufacturing firms that produce computer chips with machinery ... Post by: corie on Oct 24, 2017 Suppose there are ten identical manufacturing firms that produce computer chips with machinery (capital, K) and labor (L), and each firm has a production function of the form q = 10KL0.5. What is the industry-level production function?
A) Q = 10K10L5 B) Q = 100KL0.5 C) Q = 100L0.5 D) none of the above Title: Re: Suppose there are ten identical manufacturing firms that produce computer chips with machinery ... Post by: LBCea on Oct 24, 2017 B
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