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Profit func.: Π*(p,w)=p[ln(p/w)]-p ... (p=output $, w=labor $; both per-unit); use Hotteling's lemma to find output-supply and labor-demand?

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  • Profit func.: Π*(p,w)=p[ln(p/w)]-p ... (p=output $, w=labor $; both per-unit); use Hotteling's lemma to find output-supply and labor-demand?


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