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You know that the supply of wide receivers w = 100000 + 50000LThe demand for wide receivers is MRP =

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 =