In a competitive market firms sell output at a price of S20. Marginal productivity per hour of
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In a competitive market firms sell output at a price of S20. Marginal productivity per hour of the workers is described by the equation MPL = 40 - L. What is the firm's demand curve for labor? If the firm can hire labor from a competitive labor market at a wage of S20 per hour. how many workers should the fin hire?
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