the marginal product is given by VMPL=100,000 - 100LD. D Question 1 Compute the equilibrium number of players hired in a competitive labor market. Round to the nearest whole number.

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A: The marginal product of labor is the additional product produced by an additional unit of labor in…

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A: A. The Marginal revenue product of the labor can be calculated by multiplying the marginal product…

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A: The table is filled below using the following formulas MPL= Change in Q/ Change in L TC= VC+FC ie…

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A: Marginal product of labor refers to addition in total product by using one more unit of labor.

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Q: Units TP VC FC TC МС of Labor

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A: Option B is the correct answer: higher wage rates will draw more people into a given market.…

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A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first…

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Q: Using the figure below, if Company X hires 12 workers what will their marginal product be?

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Q: Table 18-1 Days of Labor Units of Output Marginal Product VMPL 10 10 200 18 160 25 140 30 100 33 60…

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A: A firm that is perfectly competitive in the output market faces a demand curve for it's output P= MR…

Q: Define the term Direct Labor?

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A: We have the production function in which the labor is in logarithmic.

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Q: on. What is the marginal revenue product of the fifth worker?

A: Marginal revenue is the addition to total revenue. So we need to find total revenue.

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Q: Suppose Kara maximizes her profits by hiring workers to produce hand-made soaps. Her soaps sell for…

A: Suppose Kara maximizes her profits by hiring workers to produce hand-made soaps. Her soaps sell for…

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A: Perfect competition refers to the situation where there are large number of prouder and consumers…

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A: As economies emerged, goods and services were produced that required machinery and labour. With time…

Q: Your enterprising uncle opens a sandwich shop that employs 11 people. The employees are paid $15 per…

A: Number of employed = 11 people Given wage = $15 Selling price = $3

Q: .With which of the theories of wages, is the name of John Stuart Mill associated? O Marginal…

A: To find : John Stuart Mill is associated with which theory of wages.

Q: If a labor union successfully restricts the supply of labor to firms, and if the union is not able…

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