Suppose that a firm's production is given by: Q= 10L-L² , for L= 0 to 5, where L is labor input per day and Q is output per day. Derive and draw the firm's demand for labor if the firm's output sells for $10 in a competitive market. The marginal product of labor is 10-2L. a. How many hours of labor will the firm use when the wage is $30 per day? b. How many hours of labor will the firm use when the wage is $70 per day?

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