Xyz produces gadgets that are sold for 20 each and is able, Ask an Expert

Economics

Calculating the optimal hours of labor

Firm XYZ measures its MP of labor curve to be the following MP = 4000 - 2L where L is the number of hours of labor hired per day. XYZ produces gadgets that are sold for $20 each and is able to hire workers for $10 per hour. How many hours of labor should XYZ hire each day to maximize its profits?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M923873

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