Essay
Maureen's Custodial Services has a monopoly in custodial services in the local community. The relevant marginal revenue of custodial services as a function of labor employment is:
MR(L) = 70 - 0.029L.
The marginal product of labor in providing custodial services is 0.1. Maureen is a price taker in the labor employment market and the market price of labor is $6. Determine Maureen's optimal employment of labor.
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