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ABC Corp produces widgets with labour as the only variable input. Its production function is y...

ABC Corp produces widgets with labour as the only variable input. Its production function is y = z2, where y is output and z is labour input. The maximum output possible with its plant is 100 units of output. Denote the price of output by p > 0 and the wage rate by w > 0. Does the Extreme Value Theorem guarantee an answer to ABC’s profit maximization problem? Defend your answer.

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