In the Long Run,a Competitive Firm Has a Marginal Product

question 2

Multiple Choice

In the long run,a competitive firm has a marginal product of labor,MPL = L⁻¹.The output price is $20 per unit and the wage is $7.25 per hour.The long-run labor demand curve for the firm is

• A) 20 L⁻⁰.⁰⁵.
• B) 7.25L⁻⁰.⁰⁵.
• C) 20L⁻¹
• D) 7.25L⁻¹.

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Cost Benefit Analysis

A systematic approach to estimating the strengths and weaknesses of alternatives used to determine the options that provide the best approach to achieve benefits while preserving savings.

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