Question

A firm has production function q=10*(L0.5)*(K0.5). In the short term, capital K is fixed at 9....

A firm has production function q=10*(L0.5)*(K0.5). In the short term, capital K is fixed at 9.

(a) What is the multiplicative constant term in the firm's short-run inverse demand for labor?

(b) What is the multiplicative constant term in the firm's short-run direct demand for labor?

(c) What is the multiplicative constant term in the firm's long-run inverse demand for labor?

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