Suppose a firm has a marginal product schedule given by the equationMPL = 50 ? 2L,where L is the number of workers. Suppose the money wage is $40 and the product price is $2.a. Find the optimal employment level assuming no training investment.b. If the price of the product the firm sells falls to $1, find the new employment level.
Optimal employment level
Get your custom paper done at low prices
275 words/page
Double spacing
Free formatting (APA, MLA, Chicago, Harvard and others)
12 point Arial/Times New Roman font
Free title page
Free bibliography & reference
TESTIMONIALS
What Students Are Saying
Outstanding, thank you very much.
Awesome. Will definitely use the service again.