Question
I need help with the following, the table has already been completed. b.If the company can sell every product it makes for $40 each, how
I need help with the following, the table has already been completed.
b.If the company can sell every product it makes for $40 each, how many units should the company make each day?How many employees will it hire each day?What is the firm's MRP for the last employee hired? Will the company make an economic profit producing this quantity of output?Why or why not? (7)
c.What would be the profit-maximizing level of production if demand increased such that each unit sold for $60? By how much will this change the firm's profit? (5)
d.Suppose the demand significantly decreased so that the price for a unit of output slid to $30 each.What should the firm do? Why?
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