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Economy?? !!?

Thu, Mar 11, 2010

Financial Q&A

Can someone plase help me with this questions:

Labor Input(workers per day) Total Output(boxes per day)
0 – 0
1- 15
2- 27
3- 36
4- 43
5- 48
6- 51

If the selling price is $10 per box:

1. What is the marginal revenue product (MRP) of each worker?

2. How many workers will Zippy hire if the wage rate is $100 per day?

3. How many workers will Zippy hire if the wage rate is $75 per day?

4. Assume the wage rate is $75 per day and the price of a box of paper is $20. How many workers will Zippy hire?

Thanks a lot for those who helped.

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