Please can you help solve this and provide explanation

Problem 101. A Major League Baseball tam is considering increasing the quality of its pitching staff by hiring all-star qualit)r pitchers. The table below shows the marginal product of labor (MPL) for the team for each number of pitchers. AllStar Pitchers MPL (Saul/season) (b) How low would salaries need to fall before the team would hire an additional all-star pitcher? $24 $20 :I g; (c) How would a rule to limit the number of innings a pitcher could play per season a'ect the MPL? $1 . 50.5 |:' increase El decrease El not change |:| can't tell (a) If the salary for an all-star pitcher is $3.2 mil- lion per season. how man}.r will this team hire? :| Problem 10.2. A publisher wants to enter the market for sci-Ii romance novels. To do this, the publisher needs to hire an editorial team that will solicit manuscripts, read draftsl and work with authors on revisions. The table below shows the total number of books completed each month in relation to the number of editors. d'lU'l-thMH is month) Editors Books M PL 4500 - - - - - - - - Edited (Book Price=$10) was 1 300 2 700 3500 3 1.050 3'3"" 4 1.350 2500 5 1.600 6 1.800 soon 7 1.950 15"" a 2.050 moo son lS-iss'rSQEditors (meets) (.11) Fill in the table for the Marginal Product of each worker if sci-ii romance hooks sell for $20 each. (h) Graph the Marginal Product curve using data from the table. on At what point do diminishing returns begin in book editing? I: (d) If the the market wage for editors is $2,600 per month, how many editors will be hired? :I (e) If demand for sci- romance increases so that books can be sold for 315, how many how many additional editors are hired? I: Exercise 10 Markets Name Problem 10.3. The figure shows the marginal product of labor for janitors at an amusement park at the Jersey Shore. Wage (a) What is the highest wage at which this company $40 would still be willing to hire at least one janitor? - The marginal product of labor $ (b) How many janitors are hired if the market wage is $10? How many janitors are hired 20 The demand curve if the market wage is $15? Circle for labor the number of workers hired at each wage on the graph. Number of janitors Problem 10.4. The left figure shows individual labor supply curves for three groups of certified financial planners in a mid-sized city 5/ Hourt $/ Hour + $200 $200 3150 $100 3100 1,080 2,000 3,000 ( Hours/Day ) (a) How many hours per day does planner of type I work when rates are $100 per hour? How many hours per day does a planner of type 2 work at that rate? (b) If there are ten certified planners of each type in the market, plot the market supply curve for financial 2 planners at hourly rates of $100, $150 and $200. (c) Which type do you think is most likely to be a mother with a young child? Which type is most likely to be a mid-career expert with an advanced degree?Exercise 10: Labor Markets Name: Problem 10.5. The figure shows the market for house painters in a midwest town. Wage (b) At the equilibrium, total wages paid to painters ($/hr) 20 is | $ Supply 18 (c) Label the market equilibrium wage and hours on 16 the graph. Shade the area representing surplus to workers. 14 12 (d) If a minimum wage of $15 is imposed in this market, what is the new level of employment 10 hours? $ What are total wages paid 8 to painters? $ (e) Label the wage and hours worked with the mini- mum wage. Shade the area representing surplus to workers using a different color or pattern than Demand above. 10 12 4 16 18 20 (Ths. Hours) (f) If instead of a minimum wage the state of- fered a $3 wage subsidy to painters, what is (a) If the market in the figure is in equilibrium, the new equilibrium number of employment hours? hourly wage for a painter is $ and $ the marginal product of labor in the market is