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Suppose the optimal labor demand function is given by the following equation. L*= p3 / 8r 1/2 w If p = 200, r = 25, and w = 4, calculate the elasticity of demand with respect to wages.

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Suppose the optimal labor demand function is given by the following equation. L*= p<sup>3</sup> / 8r<sup> 1/2</sup> w If p = 200, r = 25, and w = 4, calculate the elasticity of demand with respect to wages.






 
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