In the short run, a competitive firm has a marginal product of labor, MPL = 5L-0.5. The output price is $10 per unit and the wage is $7 per hour. The short-run labor demand curve for the firm is
A) 5L-0.5.
B) 15L-0.5.
C) 35L-0.5.
D) 50L-0.5.
D
You might also like to view...
Show the effects of a permanent increase in the money supply
What will be an ideal response?
If the fiscal policy makers aim to increase aggregate demand, they will likely enact:
A. expansionary fiscal policy. B. contractionary fiscal policy. C. expansionary monetary policy. D. contractionary monetary policy.
Pollution regulation by requiring firms to implement specific equipment or actions is known as ___________
a. Pigouvian or pollution taxes b. tradable pollution permits c. pollution standards d. technology-based regulations e. None of the above.
Of the four groups listed below, the highest unemployment rate is typically experienced by:
A. females as a group. B. males as a group. C. teenagers. D. persons who completed 1-3 years of high school.