In the short run, a competitive firm has a marginal product of labor, MPL = 5L-0.5. The output price is $10 per unit and the wage is $7 per hour. The short-run labor demand curve for the firm is

The above figure shows the U.S. market for wheat. With no international trade, consumer surplus is equal to ________ and producer surplus is equal to ________

A) area A; area B + area C + area E + area F B) area A + area B + area C; area E + area F C) area E + area F; area A D) area B + area C + area D; area E + area F E) area A + area B + area C + area D; area E + area F

Use the above figure. The total cost of producing at the optimal level for the monopolistically competitive firm is

A) $285. B) $255. C) $180. D) $300.