Essay
Suppose that the total product of labor per Day) for a firm is given by:
TPL = 88L - 7.5L2
a. Find the MPL function.
b. How many workers should the firm employ if the wage rate is $156.00 per day and the NMRL is $12.00?
Correct Answer:
Verified
a. MPL = dTPL/dL = 88 - 15L
b. MRPL = MPL x ...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
b. MRPL = MPL x ...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q44: Suppose that the total product of labor
Q45: The Box Shop, Inc produces corrugated boxes
Q46: The net marginal revenue of an input
Q47: A commercial scissors manufacture has the relationship
Q48: In a monopsonistic input market, the firm
Q50: Oligopsony is the term we use to
Q51: The marginal product of input a is
Q52: The term which is used to describe
Q53: The term which is used to describe
Q54: The term which is used to describe