Instacart offers consumers a convenient form of home delivery service for groceries. Units of output (q) are individual grocery deliveries/day. Grocery deliveries are achieved through the use of delivery trucks (K) and workers (L). The price of labor (w) is $10/worker. Use the provided graph to answer the question below.

Suppose that Maria is starting a food ordering and delivery company. Customers order meals online. Employees prepare the meals and deliver them to customers. Maintenance of the online platform for ordering meals costs the company $5 per day. The company also rents space where orders are prepared. Rent costs $50 per day. To make the deliveries, the business also rents two delivery cars that cost $10 each per day. The costs of ingredients for preparing different numbers of meals are provided in the table below. Maria also has to hire between 0 and 10 workers (depending on the number of meals she chooses to make) to buy ingredients, prepare meals, and deliver the orders. She will pay each employee $120 per day. The first two columns of the table below show how many meals different number of workers can prepare and deliver. Price per meal $50 Workers (Labor L) 0 1 2 3 4 5 6 7 8 9 10 Meals (Output Q) ol- 30 42 52 60 67 73 79 85 90 95 MPL FC Cost of ingredients $10 $75 $100 $121 $138 $152…

B. Suppose that your production process is characterized by the production function x = f(e) = 100 In ( + 1). For purposes of this problem, assume w > 1 and p > 0.01. a. Set up your profit-maximization problem. b. Derive the labor demand function. C. The labor demand curve is the inverse of the labor demand function with p held fixed. Can you demonstrate what happens to this labor demand curve when p changes? d. Derive the output supply function. e. The supply curve is the inverse of the supply function with w held fixed. What happens to this supply curve as w changes? (Hint: Recall that In x = y implies e' = x, where e ≈ 2.7183 is the base of the natural log.) f. Suppose p = 2 and w profit will you make? = 10. What is your profit-maximizing production plan, and how much

The table below describes the hourly cost Sam faces as he washes more cars.   Sam's Car Wash Costs Cars Washed per Hour Total Cost (dollars) Marginal Cost (dollars) 1 $2 $2 2   4 3 12   4   8 5   10 6 42     Instructions: Enter your answers as a whole number.   Complete the missing values in the table.

The short run is a time period that is A) long enough to change the size of the firm's plant. B) too short to change the size of the firm's plant. C) too short to change the amount of ANY resource the firm employs. D) too short to change the amount of labor hired.

Tim is a baker who produces doughnuts. He can access labour at a rate of $2 per hour, and capital at a rate of $0.25 per machine hour. He produces doughnuts according to Q = L+ K0.5. If the bakery is operating with an optimal factor allocation, and producing 40 doughnuts per day, determine the average total cost of a doughnut. The bakery employs one worker, Anil, who consumes doughnuts (d) and other goods (y) with utility U(d,y) = edy. (Assume y is the Marshallian good, with Py=$1). %3D Sketch Anil's utility curve, and his budget, which is the pay he receives from his job. Do Anil's preferences satisfy the rules of preference ordering? Are there any constraints on his consumption of either good? Derive the supply and demand curves based on Anil's individual demand, and Tim's costs of production.

Known function is the production of a commodityQ = 40X + 12X2 - 1.2X3a. Calculate how many units of input X in order to achieve maximum total productb. Calculate how many units of input X in order to achieve maximum marginal productc. Calculate how many units of input X in order to achieve maximum average product

If you increase the total amount of labor, the labor constraints curve becomes flatter. true or false

Maria's Umbrellas has a production function given by Q = L0.5K0.5. The wage (W) is $80 per day and the rental per unit of capital (R) is $5 per day. In the long run, how many units of capital will Maria want to buy for each unit of labor?

Each of the following examples reflect some labour cost faced by an employer. Select all of those which are considered quasi-fixed labour costs. Select one or more: a. Harpreet spent $1,000 advertising a recent job opening b. Denise pays her entry-level employees an hourly wage of $20 c. John recently laid off five workers and gave them each $20,000 in severance pay d. Ahmed's sales employees earn an average annual commission of $50,000 e. Amanda spends $5,000 per year on supplemental health insurance for each of her employees