Question
- Suppose that Brine Freez servings sell for $4 each; capital is paid a daily rental rate of $20 ; and labor is paid a
- Suppose that Brine Freez servings sell for $4 each; capital is paid a daily rental rate of $20 ; and labor is paid a daily wage of $80 . - Calculate the value of marginal product of labor (L) and show in its simplest form. - Interpret the "value of marginal product of labor (L) " when L=3 in your ownd words? - What is the predicted profit-maximizing number of workers (L*) for Brine Freez?
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Okay lets solve this stepbystep Brine Freez sells each serving for 4 Capital rent...
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
