Could you solve the questions please? THANK YOU SO MUCH!!!
Frank Gunter owns an apple orchard. He employs 32 apple pickers and pays them $11 per hour to pick apples, which he sells for $2.75 per box. If Frank is maximizing profits, what is the marginal revenue product of the last worker he hired? What is that worker's marginal product? Marginal revenue product of the last worker = $ per hour. (Enter your response as an integer.)Fill in the blanks in the following table for Tommy's Televisions, where L is the number of workers, Q is the output of televisions per week, MP is the marginal 300- product of labor (television sets per week), P is the product price, MRP is the 270- marginal revenue product of labor (dollars per week), W is the wage rate, and PROFIT is the additional profit from hiring one more worker (dollars per week). 240- First, fill in the marginal product of labor. (Enter numeric responses using 210- integers.) 180- Q MP Marginal revenue product of labor, wage 150- 0 15 120- 29 OUAUN- O 42 60 54 65 30- . . . . . 75 Quantity of laborState whether each of the following events will result in a movement along the market demand curve for labor in electronics factories in China or whether it will Graph A cause the market demand curve for labor to shift. If the demand curve shifts, indicate whether it will shift to the left or to the right in the provided graph. A decline in the wage rate will result in a the labor demand curve. shift in MRP of labor, wage movement along D 1 Quantity of laborWhich of the following correctly explains the effect of a variable on the labor demand curve? O A. If the quantities of other inputs increase, then the labor demand curve will shift to the right. O B. If the price of the product increases, then we will move down the labor demand curve. O C. If the number of firms in the market increases, then we will move up the labor demand curve. O D. If the wage increases, then the labor demand curve will shift to the right. O E. If technology improves, then the labor demand curve will shift to the left.Suppose a firm produces cables for video games using workers according to the table and that its output sells for $1.00 per unit. 40- 387 Marginal 36- 34- Marginal Revenue 32- Workers Output Product Product 30- 0 28- 20 20 20 26- 24- 36 16 16 22 UIAWN- C 48 12 12 Wage AN 56 8 8 18 60 4 4 16- 14- Derive the firm's labor demand curve. 10 Use the line drawing tool to draw the firm's labor demand curve. Label this line . . . . . Demand'. Carefully follow the instructions above, and only draw the required objects. 2 Quantity of laborThe marginal revenue product oflabor (MRPL) for an employer is shown in the gure to the right. Suppose the market wage is $16.00 per hour. How many hours of labor should the employer hire? The employer should hire value.) hours of labor, (Enter your response as an integer Marginal revenue product of labor '1.\" _II 5:? In O 1 2 3 4 5 5 7 B 9 1O 11 Quantity of labor (hours) Suppose Sony makes PlayStation 3 using capital. In what way is capital a derived demand? Capital for Sony to make PlayStation 3 is a derived demand because O A. it depends on the average total cost of capital. 0 B. it depends on consumer demand for PlayStation 3. O C. it does not depend on the revenue Son}:r would receive from selling additional 3lav3tation 3s. O D. it depends on the cost of capital, but not on the price ofthe PlayStation 3. O E. it is relatively inelastic. Suppose a rm produces hardware that plays video games using workers according to the table below. Suppose also that its output sells for $200 per unit. Workers Output 0 32 48 56 60 62 th-wMko Is the rm experiencing the effects predicted by the law of diminishing returns? The rm Y experiencing diminishing returns. is is not
