Essay
The marginal product of labor curve for Coast to Coast, a standup paddle board outfitter, is MRPL = 500 -100L, where L is the number of guides hired per week and MRPL is dollars earned per guide per week. The prevailing market wage is $200 per week.
a. Graph both the MRPL and the prevailing market wage in the grid provided.
b. What is the choke wage for Coast to Coast?
c. What will be the optimal amount of labor for Coast to Coast to hire?
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a. Please see the graph: 
b. The choke ...View Answer
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Correct Answer:
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b. The choke ...
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