Multiple Choice
In the short run,a competitive firm has a marginal product of labor,MPL = 8L-0.5.The output price is $16 per unit and the wage is $2 per hour.At the profit-maximizing level,how many units of labor are hired by the firm?
A) L = 4
B) L = 6
C) L = 12
D) L = 8
Correct Answer:
Verified
Correct Answer:
Verified
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