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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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