[Solution] If we know the following information MC=(Delta TVC)/(Delta Q)=(Delta w(L))/(Delta Q)=(w(Δ L))/(Delta Q/Δ L)=(w)/(MP_L) If the labor
Question: If we know the following information
\[MC=\frac{\Delta TVC}{\Delta Q}=\frac{\Delta w\left( L \right)}{\Delta Q}=\frac{w\left( \Delta L \right)}{\Delta Q/\Delta L}=\frac{w}{M{{P}_{L}}}\]
If the labor rate (w) is $1000, what is the MP of Labor for 1-5 units of output using the table in Q1.
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