NBC executives have developed a new professional sports league-the XBL (Extreme Badmiton League). The short-run production function for televised games has been determined to be Q=25L-2.25L2, where L is the number of players. The marginal product of labor is MPL=25-4.5L.
a. If the output price received for each game is $20, write an expression for the league's marginal revenue product.
b. Suppose that the XBL can hire badminton players competitively at a wage of $50. How many players would they hire at this price?
c. Based on your answer to (b), calculate the output and the total revenue for XBL