3. Hurley owns a restaurant. To operate the store, he needs to hire labor (L) and...

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3. Hurley owns a restaurant. To operate the store, he needs to hire labor (L) and capital (K). The short run production funct

(a) Please write down Hurleys profit. (b) Please solve for Hurleys labor demand. (Express labor demand as a function of wag

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P- Production function; Q (L, KI = Lost Price of product a) Hurleys profit PQ- Prostos Ta - الما رانيا - T- do 고 Ploos) 2-o

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