ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Wanda's is a fish store. The table shows the amounts of fish that students can pack in an hour.
Marginal
product
(kilograms of fish
per student)
Number Quantity
of of fish
students (kilograma)
90
5
6
120
145
165
30
25
20
15
Value of
marginal product
(dollars per student)
Draw the firm's demand for labour curve. Label it D.
Wanda's employs students an hour
>>>Answer to 1 decimal place
15.00
12.50
10.00
7.50
7
180
The market for fish is competitive and the price of fish is
50g a kilogram. The market for packers is competitive and their market wage rate is $7.50 an
hour.
17.50
15.00
12.50
10:00
7.50-
5.00
Wage rate (dollars per hour)
Quantity of labour (number of students)
>>> Draw only the objects specified in the ston
Q
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