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Author Question: Value of the Marginal Product and the Demand For LaborThe table shows the number of workers (L) and ... (Read 436 times)

shanell

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on: Nov 23, 2022
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
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by shanell on Nov 23, 2022

Hamad

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Reply #1 on: Nov 23, 2022
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.
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shanell

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Reply 2 on: Nov 23, 2022
Great answer, keep it coming :)

kishoreddi

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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