Question
The following table depicts the output of a firm that manufactures wireless earbuds. The earbuds sell for ?$5 each. Part 2 Labor Input ?(workers per?
The following table depicts the output of a firm that manufactures wireless earbuds. The earbuds sell for
?$5
each.
Part 2
Labor Input ?(workers per? hour) | Total Physical Output ?(earbuds per? hour) | Marginal Physical Product | Marginal Revenue Product |
10 | 200 |
?- | ?- |
11 | 221 |
enter your response here
enter your response here
12 | 239 |
enter your response here
enter your response here
13 | 254 |
enter your response here
enter your response here
14 | 266 |
enter your response here
enter your response here
15 | 275 |
enter your response here
enter your response here
16 | 281 |
enter your response here
enter your response here
Calculate the marginal physical product at each input level above 10 units.???(Enter your responses in the table above as whole? numbers.)
Calculate the marginal revenue product at each input level above 10 units.
Part 3
Suppose this firm has chosen to hire 15 workers.??
What is the maximum wage the firm would be willing to? pay???
?$enter your response here
.
?(Enter your response as a whole? number.)
The following table depicts the output of a rm that manufactures wireless earbuds. The earbuds sell for $5 each. Labor Input (workers per hour) 10 11 12 13 14 15 16 Total Physical Output (earbuds per hour) 200 221 239 254 266 275 281 Marginal Physical Product Marginal Revenue Product Calculate the marginal physical product at each input level above 10 units. (Enter your responses in the table above as whole numbers.) Calculate the marginal revenue product at each input level above 10 units. Suppose this rm has chosen to hire 15 workers. What is the maximum wage the rm would be willing to pay? $ . (Enteryaur response as a whole number.)Step by Step Solution
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