Problems 1. Output of lawn-care services, measured in number of lawns, depends on the hours of lawn-maintenance labour, given a fixed capital stock, according to production function: Q=2?(L)

The marginal product of labour is therefore given by 1/?(L). Assume that the price of lawn service is $10 per lawn

a. solve for the labour demand function.

b. calculate the labour demand, output, and profits for wages equal to the following.(i.e fill in the remainder of the table) how do profits vary along the demand curve?

1. Output of lawn-care services, measured in number The marginal product of labour is therefore given of lawns, depends on the hours of lawn-maintenance by 1 Assume that the price of lawn services is labour, given a fixed capital stock, according to the production function: $10 per lawn. Q = 2VL a. Solve for the labour demand function.b. Calculate the labour demand, output, and profits for wages equal to the following (i.e., fill in the remainder of the table): Wage Labour Output Profits 110 How do profits vary along the demand curve