Workers Total Product Product price 0 0 4 1 16 4 2 26 4 3 34 4 4 40 4 5 44 4   At a wage rate of $15, the firm will choose to employ how many workers?

If the marginal product of labor is 50 per day, and if the market is $4.50, calculate the marginal revenue product.

Complete the following labor supply table for a firm hiring labor competitively: Marginal Resource Wage Rate Marginal Revenue Product Units of Labor Total Labor Cost (Labor) Cost $14 - - 1 14 $38 14 28 3 14 24 4 14 20 14 14 14 10 2.

A firm faces perfectly elastic demand for its output at a price of $6 per unit of output. The firm, however, faces an upward-sloping labor supply curve of E = 20w - 120 where E is the number of workers hired each hour and w is the hourly wage rate. Thus, the firm faces an upward-sloped marginal cost of labor curve of MCE = 6 + 0.1E Each hour of labor produces five units of output. How many workers should the firm hire each hour to maximize profits? What wage will the firm pay? What are the firm’s hourly profits?

Give typed full explanation  While management must negotiate the effects on workers of a decision to close a plant, the decision to close the plant itself is not a mandatory bargaining issue. Group of answer choices True False

Frank's Fajitas can produce 45 fajitas per hour with five workers and one grill. One more worker will increase output by 6 fajitas per hour. If the wage rate is $9 per hour, the marginal cost of increasing fajita production to 51 fajitas per hour at Frank's Fajitas is: Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. b C Question 10 d $1.50. $3.00. $4.50. $9.00. Saved

The inverse labour demand curve of a monopsonist employer is W = 38,500 – 112L, where W is the annual salary and L is the number of workers hired. The labor supply is given by W = 10,700 + 100L.   (a) The marginal expenditure equation is ME=    . Do not include a comma in your answer. Please use capital letters (e.g. L not l) (b) To the nearest integer, the monopsonist would hire    workers and, given that number of workers, the salary they would pay is, rounded to 2 decimal places (e.g. 4.12)    . Do not include a comma in your answer.

Suppose, the demand and supply curve in a US manufacturing firm are provided as follows: ES = 20 + 2w ED = 70 − 3w where E is the level of employment and w is the hourly wage. Let’s assume this firm shows the representative wage of the manufacturing industry. Suppose the price of each unit of capital used in this industry is $25. The price of output is constant at $50 per unit. The production function is f(E,K) = E½K ½ , so that the marginal product of labor is MPE = (½)(K/E) ½ If the current capital stock is fixed at 1,600 units, how much labor should the industry employ in the short run? How much profit will the industry earn?

The marginal revenue of the nth box of flash cards sold is 100e^-0.001n dollars. Find the revenue generated by selling boxes 101 through 1000.

Labor (workers per day) Total Product (per day) 10 4000 11 4389 12 4752 13 5083 14 5376 15 5625 The firm can hire as many workers as they want at the prevailing market wage of $150 a day per worker. In addition, the firm pays $200 a day for equipment. Enter ONLY numbers. No comma, units, or decimals. 1. What is the marginal product of the 12th worker? 2. What is the average product of hiring 12 workers? 3. What is the total variable cost per day if 12 workers are hired ? 4. What is the total fixed cost per day if 12 workers are hired?