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Help please Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if each is equipped with a shovel, a

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Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if each is equipped with a shovel, a machete, and a chainsaw. Clearing one acre brings in $1,000 in revenue. Each worker's equipment costs the worker's employer $175 per month to rent and each worker toils 40 hours per week for 4 weeks each month. Instructions: In part a, enter your answer as a whole number. In parts b-e, round your answers to 2 decimal places. a. What is the marginal revenue product of hiring one low-skilled worker to clear woodland for one month? $ b. How much revenue per hour does each worker bring in? $ c. If the minimum wage is $11.15, by how much will the revenue per hour in part b differ from the minimum wage? $ d. Consider the employer's total costs, which include the equipment costs as well as a normal profit of $50 per acre. If the firm pays workers the minimum wage of $11.15 per hour, what will the firm's economic profit or loss be per acre? (Note: Enter your answer as a positive number-that is, do not use a negative sign if you are entering a loss.) The firm's (Click to select) | per acre will be $[ e. At what value would the minimum wage have to be set so that the firm makes zero economic profit from employing an additional low-skilled worker to clear woodland? $

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