The nation of Ectenia has 80 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: 3
Q = 80L - L2
MPL = 80 - 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 od the daily wage W?
L= 80 - 2W L= 40 - 0.5W L= 40 - 0.25W L= 3,200 - 20W