Isoprofit 1 slope=1.25, y intercept=0Isoprofit 2 slope =0.75, y intercept=32The following graph shows the production function (PF) for a new company that requires labor only as an input to produce its output. There are also two isoprofit curves on the graph, and points A and B indicate where these isoprofit curves are tangent to the given production function.Note: Select either isoprofit curve to see its vertical intercept and slope.Suppose the output price of the good being produced is $60. This means that the wage used to graph Isoprofit1 must be _____$ per hour, while the wage used to graph Isoprofit2 is ________$ per hour.

a Homework: One Input and One Output: A Short-Run Producer Model The following graph shows the production function (PF) for a new company that requires labor only as an input to produce its output. There are also two isoprofit curves on the graph, and points A and B indicate where these isoprofit curves are tangent to the given production function. Note: Select either isoprofit curve to see its vertical intercept and slope. Wage Decrease Isoprofit 83 71 OUTPUT PER Day Isoprofit2 PF 57 68 LABOR (Hours per day) O