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- Please calculate the marginal product of labor at the steady stateIf: q = L+K Wage = 20 Rate of capital = 40 How much does it cost the firm to produce q = 50? How much capital K and how much labour L is employed?Based on the graph below, how many workers would the firm hire and at what wage? A. 50 workers at $8 B. 50 workers at $18 C. 80 workers at $8 D. 80 workers at $13 E. 80 workers at $18
- As the current state of the economy and work environment, is gig work here to stay?Labour (Units) Total Product (TPP) (MPP)0 01 1002 2503 3504 4005 4206 420Calculate and plot the average product and marginal product What is the most favourable number of workers for this business to hire, indicate such on the graphkindly give the relevant term or concept 1. the addition to total output when one more worker is hired, ceteris paribus
