Macroeconomics (7th Edition)
Macroeconomics (7th Edition)
7th Edition
ISBN: 9780134738314
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Chapter 9, Problem 9.3.7PA
To determine

Reason for the decrease in firm’s cost due to increase in the worker’s wage.

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Calculate the Marginal Product (MP) at each input level. If the price of printer is $100 each, calculate the Value of the Marginal of labor (VMPL). If the wage rate (per week) is $1800 , how many workers will be employed? If  the firm decides to hire 14 workers, what is the maximum wage the firm would be willing to pay?
The following chart shows the number of workers and hourly wage rate required to produce different quantities of braking systems in an hour. 15 9 13 15 2.89 4.00 4.70 6.43 7.27 Quantity of Output (Q) 2 Workers (L) Wage Rate Per Hour 15.28 15.28 15.28 15.28 15.28 Calculate the cost of producing nine braking systems in an hour. Round your answer to the nearest cent. Provide your answer below:
Calculate the size of the workforce needed for the companyto meet average weekly demand.

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Macroeconomics (7th Edition)

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