Multiple Choice
If the market demand elasticity is constant at -3 and a monopolist's MPL = 1.2L⁻⁰.⁵,then the labor demand for the monopoly is
A) 0.8PL⁻⁰.⁵.
B) 0.4PL⁻⁰.⁵.
C) 0.8PL⁻².
D) 0.4PL⁻².
Correct Answer:

Verified
Correct Answer:
Verified
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