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In a competitive market, firms sell output at a price of $160. Marginal productivity per hour of the workers is described by the equation MP,
In a competitive market, firms sell output at a price of $160. Marginal productivity per hour of the workers is described by the equation MP, = 10-0.5L. Which of the following represents the competitive firm's demand for labor? O A. MRP = 1,600 - 0.5L O B. MRP = 10 -80L O C. MRP = 1,600 - 80L O D. MRP = 160 - 80L If the firm can hire labor from a competitive labor market at a wage of $16 per hour, how many workers should the firm hire? The firm should hire workers. (Round your answer to two decimal places.)
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