Question
You know that the supply of wide receivers: w = 100000 + 50000L
The demand for wide receivers is: MRP =
14100000 – 300000L
The marginal factor cost is: MFC = 100000 + 400000L
Where L is the number of wide receivers, w is wage, MFC is Marginal Factor Cost
Assuming the labor market is perfectly competitive
What is the condition used to find optimal wage and quantity of labor?
Economics
You know that the supply of wide receivers w = 100000 + 50000LThe demand for wide receivers is MRP =