Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Chapter 18, Problem 15APA
To determine
The number of labors hires.
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Students have asked these similar questions
Taco King produces tacos
The market for tacos is perfectly competitive, and the price is $3.50 a taco. The labor market is competitive, and the wage
rate is $105.00 a day
The table shows part of the workers total product schedule
Calculate the marginal product of hiring the third worker and the value of the marginal product of the third worker
The marginal product of hiring the third worker is tacos a day
The value of the marginal product of the third worker is
Saday
1
C
Workers
2
3
4
5
6
Tacos
per day
44
80
110
134
146
You own a small sandwich shop with two employees. They've asked you to consider hiring additional workers for the lunch shift, but you are concerned that doing so may cut into you're profits. Using the table below, calculate the marginal product, value of marginal product, and marginal profit of hiring additional workers.
What action should you take (choose one)
A. Hire two more employees
B. Hit one more employee
C. Fire one employee
D. Do not hire anyone
Question 1
The market for drones is perfectly competitive. Labor is the only variable input. The fixed cost is $500.
Based on the information in the table below, what is the Marginal Product of Labour when Q-300? Enter a number only, drop the $ sign.
Wage rate $100 per unit of Labour
Quantity of Quantity of
Labour
Output
2
49
119
300
15
26
51
400
Chapter 18 Solutions
Macroeconomics
Ch. 18.1 - Prob. 1RQCh. 18.1 - Prob. 2RQCh. 18.1 - Prob. 3RQCh. 18.2 - Prob. 1RQCh. 18.2 - Prob. 2RQCh. 18.2 - Prob. 3RQCh. 18.2 - Prob. 4RQCh. 18.3 - Prob. 1RQCh. 18.3 - Prob. 2RQCh. 18.3 - Prob. 3RQ
Ch. 18.3 - Prob. 4RQCh. 18.3 - Prob. 5RQCh. 18.3 - Prob. 6RQCh. 18.4 - Prob. 1RQCh. 18.4 - Prob. 2RQCh. 18.4 - Prob. 3RQCh. 18.4 - Prob. 4RQCh. 18.4 - Prob. 5RQCh. 18 - Prob. 1SPACh. 18 - Prob. 2SPACh. 18 - Prob. 3SPACh. 18 - Prob. 4SPACh. 18 - Prob. 5SPACh. 18 - Prob. 6SPACh. 18 - Prob. 7SPACh. 18 - Prob. 8SPACh. 18 - Prob. 9SPACh. 18 - Prob. 10SPACh. 18 - Prob. 11APACh. 18 - Prob. 12APACh. 18 - Prob. 13APACh. 18 - Prob. 14APACh. 18 - Prob. 15APACh. 18 - Prob. 16APACh. 18 - Prob. 17APACh. 18 - Prob. 18APACh. 18 - Prob. 19APACh. 18 - Prob. 20APACh. 18 - Prob. 21APACh. 18 - Prob. 22APACh. 18 - Prob. 23APACh. 18 - Prob. 24APACh. 18 - Prob. 25APACh. 18 - Prob. 26APACh. 18 - Prob. 27APA
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