This topic contains a solution. Click here to go to the answer

Author Question: Value of the Marginal Product and the Demand For LaborThe table shows the number of workers (L) and ... (Read 58 times)

shanell

  • Full Member
  • ***
  • Posts: 136
Value of the Marginal Product and the Demand For Labor

The table shows the number of workers (L) and the output of lightbulbs (Q) each week. The lightbulb maker is a price taker in both the product and labor markets.
Number of Workers (L)Output of Lightbulbs (Q)
00
127​
270​
3108​
4140​
5167​
6185​
Assume the price of a lightbulb is $2.75. If the equilibrium wage is $88, how many workers should this firm hire? What if the equilibrium wage rises to $118.25?
◦ 4 workers, 1 worker
◦ 5 workers, 2 workers
◦ 5 workers, 1 worker
◦ 4 workers, 2 workers


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by shanell on Nov 23, 2022

Hamad

  • Full Member
  • ***
  • Posts: 163
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 36% of students answer this correctly




shanell

  • Member
  • Posts: 136
Reply 2 on: Nov 23, 2022
Wow, this really help


flexer1n1

  • Member
  • Posts: 373
Reply 3 on: Yesterday
Excellent

 

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

For a complete list of videos, visit our video library