Developed a new professional sports league

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NBC executives have developed a new professional sports league—the XBL (Extreme Badmiton League). The short-run production function for televised games has been determined to be Q=25L-2.25L2, where L is the number of players. The marginal product of labor is MPL=25-4.5L. a. (5 points) If the output price received for each game is $20, write an expression for the league’s marginal revenue product. b. (5 points) Suppose that the XBL can hire badminton players competitively at a wage of $50. How many players would they hire at this price? c. Based on your answer to (b), calculate the output and the total revenue for XBL

Reference no: EM13733403

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