Assume that the marginal product of labor is MPL = 0.65 $13/L, where output is measured

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Assume that the marginal product of labor is MPL = 0.65 × $13/L, where output is measured in trillions and L is the number of workers

(in millions).

a) Draw the MPL curve.

b) Find the quantity of workers demanded if the real wage is $50,000 per worker.

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Macroeconomics Policy And Practice

ISBN: 978-0133424317

2nd Edition

Authors: Frederic Mishkin

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Question Posted: Feb 20, 2024 04:00 AM

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Assume that the marginal product of labor is MPL = 0.65 $13/L, where output is measured

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Macroeconomics Policy And Practice

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