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Business, 26.11.2019 23:31 caitlinrosekozoxegcb

The nation of ectenia has 40 competitive apple orchards, which sell apples at the world price of $2 per apple. the following equations describe the production function and the marginal product of labor in each orchard: q = 120l−l2, mpl = 120−2l where q is the number of apples produced in a day, l is the number of workers, and mpl is the marginal product of labor. what is each orchard’s labor demand as a function of the daily wage w?

(a) l=60−0.25w
(b) l=2,400−10w
(c) l=120−2w
(d) l=60−0.5w

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The nation of ectenia has 40 competitive apple orchards, which sell apples at the world price of $2...
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