What is your profit-maximizing quantity of labor

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Question: You are the only firm in town, and your demand for labor follows the schedule P = 100 - 2Q, where P is the price and Q is the quantity. The price you pay for labor depends on the amount that you hire, according to the schedule P = 10 + 4Q. What is your profit-maximizing quantity of labor? (Hint: find the marginal expenditure on labor, then find the quantity such that the price on the labor demand curve equals the price on the marginal expenditure curve).

Reference no: EM132151393

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