Assume that the initial short-run labor demand curve is given by MRP_L₁ = 800 - 50l, where l is the quantity of labor demanded. The market wage rate is $200 per week. Graphically explain why long-run labor demand is flatter than short-run labor demand.

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The Answer of Assume that the initial short-run labor demand curve is given by MRP_L₁ = 800 - 50l, where l is the quantity of labor demanded. The market wage rate is $200 per week. Graphically explain why long-run labor demand is flatter than short-run labor demand.

Assume That the Initial Short-Run Labor Demand Curve Is Given