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tuggy tuggy
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7 years ago
Consider a printing press that operates in a perfectly competitive market. Also assume that the market for printing press workers is competitive. The following table shows the employment levels and the daily output of notebooks manufactured by the printing press.

Number of Workers Employed   Output per Day (units)
0   0
1   35
2   75
3   112
4   142
5   165
6   180
7   190

a.   Calculate the marginal product of the employees. If the price at which a notebook is sold is $2, calculate the value of marginal product of the employees.
b.   If the market wage rate is $80, up to how many employees should the firm hire?
c.   If the market wage rate is $46 , up to how many employees should the firm hire?
Textbook 
Microeconomics

Microeconomics


Edition: 1st
Authors:
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SimplemanSimpleman
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