Question
Q.47 Suppose the price of bread is 3 and the marginal product of labor in a bakery is: PmL (L) = 34 L where L
Q.47 Suppose the price of bread is 3 and the marginal product of labor in a bakery is:
PmL (L) = 34 L
where L is the number of hours of work to be hired.
The bakery job demand function Ld (w) is:
Please choose an answer:
a. None of the above.
b. Ld (w) = 34 w
c. Ld (w) = 343 w3
d. Ld (w) = 34 w3
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Principles of Economics
Authors: N. Gregory Mankiw
8th edition
1305585127, 978-1305971493, 978-1337516860, 1337516864, 978-0357539200, 978-1305585126
