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In the Long Run,a Competitive Firm Has a Marginal Product

Question 77

Multiple Choice

In the long run,a competitive firm has a marginal product of labor,MPL = L-1.The output price is $20 per unit and the wage is $7.25 per hour.The long-run labor demand curve for the firm is


A) 20L-0.05.
B) 7.25L-0.05.
C) 20L-1.
D) 7.25L-1.

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