The following table depicts the number of grapes that can be picked in an hour with varying amounts of labor. Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Calculate marginal physical product. x Answer is complete but not entirely correct. Marginal Number of Output of Physical Pickers (per Grapes (in Flats) Product per Hour) Picker (in Flats) 0 0 15 15 N 29 58 x 39 3 x 47 4 51 5 X 53 6 X 51 7 47 B XThe following table depicts the number of grapes that can be picked in an hour with varying amounts of labor. Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Calculate marginal physical product. x Answer is not complete. Number of Output of Marginal Pickers (per Grapes (in Physical Hour) Flats) Product per Picker (in Flats) 0 10 10 28 56 x 43 54 61 64 65 61The following table depicts the number of grapes that can be picked in an hour with varying amounts of labor. Instructions: In the table, round your responses to two decimal places. In part b, enter your response as a whole number.If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. Assuming that the price of grapes is $2.50 per flat, calculate total revenue and marginal revenue product (MRP). Number of Pickers Output of Grapes Price of Grapes Total Revenue Marginal Revenue Product (per Hour) (Flats per Hour) ($ per Flat) ($ per Hour) (MRP) ($ per Hour) 2.50 0 10 2.50 28 W N - 2.50 43 2.50 54 2.50 61 2.50 64 2.50 65 2.50 61 2.50 b. How many pickers will be hired if the going wage rate is $7.50 per hour? |picker(s)