a. Find Wanda’s demand for labor curve.
b. How many students does Wanda employ?
Wanda owns a fish store. She employs students to sort and pack the fish. Students can pack the amounts of fish shown in the table. The fish market is competitive and the price of fish is 50¢ a pound. The market for packers is competitive and their market wage rate is $7.50 an hour.
Number of studentsQuantity of fish
(pounds)
1……………………… 20
2……………………… 50
3……………………… 90
4………………………120
5………………………145
6………………………165
7………………………180
8………………………190