You know that the supply of wide receivers: w = 100000 + 50000L
The demand for wide receivers is: MRP =
14100000 – 300000L
The marginal factor cost is: MFC = 100000 + 400000L
Where L is the number of wide receivers, w is wage, MFC is Marginal Factor Cost
Assuming the labor market is perfectly competitive
What is the condition used to find optimal wage and quantity of labor?