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

question 77

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)20L^-0.05.
• B)7.25L^-0.05.
• C)20L^-1.
• D)7.25L^-1.

---

Definitions:

Elevated Blood Pressure

A condition where the force of the blood against the artery walls is higher than normal, which can lead to health problems such as heart disease.

Alternative Therapies

Treatments that are used instead of standard medical treatments. These can include herbal remedies, acupuncture, and massage therapy.

Chronic Headaches

Recurrent headaches occurring over a period of time, often causing significant discomfort or disability.

Acupuncture

A traditional Chinese medical practice using fine needles inserted at specific points on the body to relieve pain or to treat various health conditions.