Solved: Suppose woody chucks is one of many firms clearing land, Business Management

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Suppose woody chucks is one of many firms clearing land

Suppose Woody Chuck's business is to clear trees for housing developments. The production function is *L^.5 (Woody's workers use their bare hands and no capital. ROAR!). Suppose Woody Chuck's is one of many firms clearing land (hint: competitive market) and that the market price per cleared lot is $4000. What's the profit maximizing number of acres to clear when the price of labor is $4?

4
20
25
4000

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Business Management: Suppose woody chucks is one of many firms clearing land

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