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microeconomics The Ajax Coal Company is the only hirer of labor in its area. It can hire any number of female workers or male workers

microeconomics

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The Ajax Coal Company is the only hirer of labor in its area. It can hire any number of female workers or male workers it wishes. The supply curve for women is given by and for men by 1m = 911%., where W): and Wm are the hourly wage rates paid to female and male workers, respectively. Assume that Ajax sells its coal in a perfectly competitive market at $5 per ton and that each worker hired (both men and women) can mine 2 tons per hour. Ifthe rm wishes to maximize prots, how many female and male workers should be hired, and what will the wage rates be for these two groups? How much will Ajax earn in prots per hour on its mine machinery? How will that result compare to one in which Ajax was constrained (say, by market forces) to pay all workers the same wage based on the value of their marginal products

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