Use the Following Information to Answer the Following Questions

question 35

Multiple Choice

Use the following information to answer the following questions:
Mickey L.Douglas,owner of MLD Incorporated,knows that the marginal product of labor (MPL) for his workers can be defined as follows:
MPL = 32 - L
The total output a given level of workers can produce is found as:
Q = 32L - L²
He also knows that the price of his output is $3.His profits can be found as:
Profit = (P * Q) - (W * L)
-What wage would be required to allow Mickey to hire the twenty-fifth worker?

• A) $3
• B) $7
• C) $21
• D) $125
• E) $25

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