How many hours of labor should xyz hire to maximize profit

Reference no: EM13201129

Firm XYZ measured its MP of labor curve to be the following:
MP = 4000 - 3L
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?

Reference no: EM13201129

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