Macroeconomics
10th Edition
ISBN: 9780134896441
Author: ABEL, Andrew B., BERNANKE, Ben, CROUSHORE, Dean Darrell
Publisher: PEARSON
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Question
Chapter 3, Problem 4RQ
To determine
Condition for a profit-maximizing level of employment.
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Students have asked these similar questions
1. The marginal product of labor for a firm is
defined by the following equation: MPN = A(100-
N)"
a. If the price of this firm's output is $2.00 and
productivity is 1.0, what will be the firm's demand
for labor if the nominal wage is $10. If the wage is
$20?
b. Repeat part a after doubling productivity.
At its current employment level of labor and capital, a firm observes the following. Marginal product of labor = 30 units, Marginal product of capital = 60 units, Price of labor = $3 per unit and Price of capital = $6 per unit. This firm should
The marginal product of labor for a firm is given by: MPL = 176 - 4H, where H is the number of
hours they hire workers to work. For example, the marginal product of the first hour of labor would
be 176 - 4*1, and the marginal product of the second hour of labor would be 176 - 4*2.
If the market wage is $14 per hour, how many hours of labor will this firm hire?
Round your final answer to two decimal places.
Chapter 3 Solutions
Macroeconomics
Ch. 3 - Prob. 1RQCh. 3 - Prob. 2RQCh. 3 - Prob. 3RQCh. 3 - Prob. 4RQCh. 3 - Prob. 5RQCh. 3 - Prob. 6RQCh. 3 - Prob. 7RQCh. 3 - Prob. 8RQCh. 3 - Prob. 9RQCh. 3 - Prob. 10RQ
Ch. 3 - Prob. 11RQCh. 3 - Prob. 12RQCh. 3 - Prob. 13RQCh. 3 - Prob. 14RQCh. 3 - Prob. 15RQCh. 3 - Prob. 1NPCh. 3 - Prob. 2NPCh. 3 - Prob. 3NPCh. 3 - Prob. 4NPCh. 3 - Prob. 5NPCh. 3 - Prob. 6NPCh. 3 - Prob. 7NPCh. 3 - Prob. 8NPCh. 3 - Prob. 9NPCh. 3 - Prob. 10NPCh. 3 - Prob. 1APCh. 3 - Prob. 2APCh. 3 - Prob. 3APCh. 3 - Prob. 4APCh. 3 - Prob. 5APCh. 3 - Prob. 6APCh. 3 - Prob. 7AP
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