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johnpaul92 johnpaul92
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Posts: 2600
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8 years ago
The marginal product of labor (measured in units of output) of a firm is given by
   MPN = A(2000 - N)
where A measures productivity and N is the number of labor hours used in production. Suppose the price of output is $6 per unit and A = 0.002.
(a)   What will be the demand for labor if the nominal wage is $18?
(b)   What will be the demand for labor if the nominal wage rises to $21?
Textbook 
Macroeconomics

Macroeconomics


Edition: 8th
Authors:
Read 180 times
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supamansupaman
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8 years ago
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johnpaul92 Author
wrote...
8 years ago
Wow, you answered what I thought was impossible to answer, thank you!
wrote...
8 years ago
Take care for now
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