Multiple Choice
Firm X sells output at a price of $8 per unit and pays labor a wage of $20 per hour. The marginal product of labor is given by: MPL = 12 - .1L. To maximize profit, the firm should utilize _____ hours of labor.
A) 75
B) 80
C) 85
D) 90
E) 95
Correct Answer:
Verified
Correct Answer:
Verified
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