Explain consequences for the firms employment of labor

Reference no: EM13177084

This table shows the short run production function for a competitive firm whos output sells for $20 a unit.

L Q
0 0
1 2
2 6
3 9
4 11
5 12

Consider a firm with the same production function of $20 output price when 2 units of output are produced but operating under imperfect competition in the product market. Explain how and why the firms demand curve for labor will compare to that of the firms operating in a competitive product market, and the consequences for the firms employment of labor. No graphs or calculations are needed.

Reference no: EM13177084

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