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Suppose a profit-maximizing firm with some market power in its output market has a production function with MPL = 15. The firm faces a
Suppose a profit-maximizing firm with some market power in its output market has a production function with MPL = 15. The firm faces a marginal revenue (MR) function given by MR = 11-3* L. How much labor will the firm employ if the labor supply is W = 18+ 1 *L?
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