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Employment Level Assignment | Homework For You

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December 5th, 2019

Suppose a firm has a marginal product schedule given by the equation

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MPL = 50 − 2L, where L is the number of workers. Suppose the money wage is $40 and the product price is $2.

Homework For You

a. Find the optimal employment level assuming no training investment.

b. If the price of the product the firm sells falls to $1, find the new employment level. Get Economics homework help today

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