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      Question

      Under Perfect Competition, Consider X’s production

      function to be Q=(min{K,L})1/2 , the price of capital is Rs.2 and price of labor is Rs.1. Calculate the profit made by the firm if the price of the product is Rs.60
      A 300 Correct Answer Incorrect Answer
      B 400 Correct Answer Incorrect Answer
      C 500 Correct Answer Incorrect Answer
      D 600 Correct Answer Incorrect Answer

      Solution

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