Wanda owns a fish shop and employs workers to sort and pack fish. Workers can pack the following amounts of fish in an hour

Number of Workers

Quantity of Fish (pounds)

MPL

VMPL P=50 cents/pound

VMPL P=33.3 cents/pound

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1

20

20

1000

666

2

50

30

1500

999

3

90

40

2000

1332

4

120

30

1500

999

5

145

25

1250

832.5

6

165

20

1000

666

7

180

15

750

499.5

8

190

10

500

333

1. If Wanda can sell her fish for 50 cents a pound, how many workers will Wanda hire if the wage is $7.50 per hour? Indicate why Wanda will hire this number of workers. (3 points)
2. If workers wage increases to $10 per hour, how many workers does Wanda hire and why?
3. Suppose the market price for fish falls to 33.3 cents per pound. Please fill in the last column above (2 points). Now how many workers will Wanda hire if the wage is $10 per hour?
4. If the Wanda is one of 1000 firms in the fish market, how many workers will be employed in the fish market at the market price and wage per worker indicated in #4?