Suppose the marginal product of labour equals 1/L. If the firm can sell its output for $10 per unit, and the wage is $1 per unit, how many units of labour will the firm hire?
- 10
- 100
- 0
- None of these
Explanation
Firm hires until: Price × MP of labor = Wage
10 × (1/L) = 1
10/L = 1
L = 10
So the firm will hire 10 units of labour.
Last verified on 22-04-2026
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