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Find the new employment level

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Reference no: EM132323695

Suppose a firm has a marginal product schedule given by the equation

MPL = 50 - 2L,

where L is the number of workers. Suppose the money wage is $40 and the product price is $2.

a. Find the optimal employment level assuming no training investment.

b. If the price of the product the firm sells falls to $1, find the new employment level.

Reference no: EM132323695

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