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Shifts in the Labor Demand CurveFor Marginal Manufacturing, the marginal product of labor is MPL = ...

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Shifts in the Labor Demand CurveFor Marginal Manufacturing, the marginal product of labor is MPL = ...

Shifts in the Labor Demand Curve

For Marginal Manufacturing, the marginal product of labor is MPL = 30 – 3.75L, where L is the number of workers. Marginal sells output for $12 per unit. How many workers will Marginal hire when the wage is $50? If the output price increases to $48 a unit, Marginal will hire ________ (more/less) workers.
Please round your answer to the nearest whole number.

▸ 97 workers, less

▸ 97 workers, more

▸ -5 workers, more

▸ -5 workers, less

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 60 times

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