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BrendanOO7 BrendanOO7
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6 years ago
Suppose that the marginal revenue product function for the firm is MRPL = 40 - .75L.  Assume that the firm hires labor in a competitive labor market at a wage of W = $10 per hour.  Explain why employment of L = 20 is not profit maximizing (show exactly how profit could be increased).  What is the profit maximizing level of employment for this firm?
Textbook 
Modern Labor Economics: Theory and Public Policy

Modern Labor Economics: Theory and Public Policy


Edition: 12th
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alanialani
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