Part A and B

USC Seat Company # of Total Marginal Marginal Revenue workers Product Product Product with price per day per day of $20 0 0 20 20 400 50 30 600 70 20 400 JOUAWNG 85 15 300 95 10 200 100 5 100 95 -5 -100 A. Assume that the University of Southern California Seat Company produces and sells high priced seats at the college to celebrities. Assume that USC Seat Company can sell all of the seats it produces as long as it charges the market price of $20. Also assume the USC Seat Company can hire all of the labor it needs as long as they pay the market wage rate of $200 per day. B. Draw correctly labeled side by side graphs of the market and the firm. Be sure to include the following: i. Market X and Y Axis Labels(2 points) ii. Market Demand Curve(2 points) iii. Market Supply Curve(2 points) iv. Market Equilibrium Wage Labeled Using Provided Figure(2 points) V. Market Equilibrium Quantity Of Labor Hired Qm(2 points) vi. Firm X and Y Axis Labels(2 points) vii. Firm Demand Curve (2 points) viii. Firm Supply Curve(2 points) ix. Firm Equilibrium Wage Labeled Using Provided Figure(2 points) x. Firm Equilibrium Quantity Of Labor Using Provided Data(2 points)