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Business, 27.03.2020 23:31 pinky1509

Dream Home Builders, a construction company, wants to make a decision on the quantity of labor to be hired. It has already employed 10 workers. Suppose the wage rate for construction workers is $30 per hour. The value of the marginal product of labor of hiring 11, 12, 13, 14, and 15 workers is $70, 562, 548, $27 and $14 per hour respectively When Dream Home Builders employs 11 workers, it can increase profts by workers. Dream Home Builders optimizes by employing a total of workers the market wage changes to $27, Dream Home Builders would the number of workers employed to The curve depicting the value of the marginal product of labor is also the labor curve

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