The following table shows the number of pizzas that can be produced by a large pizza parlor employing various numbers of pizza chefs.

a. Find the marginal physical product schedule of the pizza chefs.
b. Assuming a price of $9 per pizza, find the marginal revenue product schedule.
c. If chefs are paid $100 per day, how many chefs will this pizza parlor employ? How would your answer change if chefs' wages rose to $125 per day?
d. Suppose the price of pizza increases from $9 to $12. Show what happens to the derived demand curve for chefs.

Transcribed Image Text:

obor of Number of Chefs Pizes per Day 64 92 92