Question
Wanda's is a fish store that hires students to pack the fish. Students can pack the following amounts of fish: Number of Students Quantity of
Wanda's is a fish store that hires students to pack the fish. Students can pack the following amounts of fish: Number of Students Quantity of Fish Packed (Pounds) 1 20 2 50 3 90 4 120 5 145 6 165 7 180 8 190 The fish market is competitive and the price of fish is 50 cents a pound. The market for packers is competitive and their market wage rate is $7.50 an hour. a. Calculate the value of marginal product of labour and draw the value of marginal product curve. b. Find Wanda's demand for labour curve. How many students does Wanda's employ?
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