Consider a simplified version of the model of public agency
Consider a simplified version of the model of public agency captured in eq. (11.2) suppose inverse demand for Q is given by D(Q)= 10-Q. Suppose the price of labor (w) is 1 and production of Q is in direct proportion to the amount of labor used: Q=L.
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consider a simplified version of the model of public agency captured in eq 112 suppose inverse demand for q is given by
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