Assume the marginal product of labor is , where output is measured in trillions and L is
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Assume the marginal product of labor is
, where output is measured in trillions and L is the number of workers (in millions).
a) Draw the MPL curve.
b) Find the quantity of workers demanded if the real wage is $50,000 per worker.
MPL = 0.65 * $13>L
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