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MMLU-Pro / 204 / Carl the clothier owns a large garment factory on an isolated island. Carl's…

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question

Carl the clothier owns a large garment factory on an isolated island. Carl's factory is the only source of employment for most of the islanders, and thus Carl acts as a monopsonist. The supply curve for garment workers is given by l = 80w, where l is the number of workers hired and w is their hourly wage. Assume also that Carl's labor demand (marginal revenue product) curve is given by l = 400 - 40MRP_l. How many workers will Carl hire to maximize his profits?

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Source and history

upstream_id / Original problem ID: 204
task_id: a54b13a8-9b29-57bd-83bf-73a2fef6f62f
task_key: default--test--204
task_revision_id: 1
config / split: default / test

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