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14th Edition

William J. Baumol + 2 others

Publisher: Cengage Learning

ISBN: 9781337794992

Chapter 19, Problem 1TY

Textbook Problem

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The following table shows the number of pizzas that can be produced by a large pizza parlor employing various numbers of pizza chefs.

- Find the marginal physical product schedule of the pizza chefs.
- Assuming a price of $9 per pizza, find the marginal revenue product schedule.
- If chefs are paid $100 per day, how many chefs will this pizza parlor employ? How would your answer change if chefs’ wages rose to $125 per day?
- Suppose the price of pizza increases from $9 to $12. Show what happens to the derived demand curve for chefs.

This textbook solution is under construction.