Suppose MP = 10/L

question 22

Multiple Choice

Suppose MP = 10/L. If the firm sells its output in a competitive market at a price of $8, how much labour will the firm hire if the wage rate is $5 per unit of labour?

• A)4
• B)6
• C)2
• D)10

---

Definitions:

Affects

The experience of feeling or emotion.

Emotions

Complex psychological states involving three components: a subjective experience, a physiological response, and a behavioral or expressive response.

Married Couples

Two people who are legally united in marriage, sharing personal and legal commitments and responsibilities.

Less Happy

A relative state describing a decrease in feelings of happiness or contentment compared to a previous condition.