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microeconomics 1. (16 marks) In a competitive market, firms sell output at a price of $20. Marginal productivity per hour of the workers is described

microeconomics

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1. (16 marks) In a competitive market, firms sell output at a price of $20. Marginal productivity per hour of the workers is described by the equation MP, = 40 - L. What is the firm's demand curve for labor? If the firm can hire labor from a competitive labor market at a wage of $5 per hour, how many workers should the firm hire

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