You know that the supply of wide receivers w = 100000 + 50000LThe demand for wide receivers is MRP =

Question

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?

Economics