you pay $10 in fixed costs for equipments and $ 9 per day to each of your  artist who make the carpets if  the industry  is perfectly competitive and the cureent market  price is $1 how  many artists should you employ number of employees                               ouput 1                                                             10 2                                                             25 3                                                           35 4                                                         43 5                                                             48 a. four b. five c. two d. three

Billy is renting trucks that will be used to install solar panels. The table below presents the marginal product (in terms of solar panels installed per week) of various trucks. Assume this is a perfectly competitive market.   a. What is the marginal revenue product of each truck if the current market price to install one solar panel is $50? What if the current market price is $100? $150? Using the table below, fill in the “Marginal Revenue Product” columns for each price.  Labor Productivity and Marginal Revenue Product for Solar Panel Installers Capital (trucks) Marginal Product (solar panels) Marginal Revenue Product for P = $50 (dollars) Marginal Revenue Product for P = $100 (dollars) Marginal Revenue Product for P = $150 (dollars) 1 24       2 21       3 18       4 15       5 12       6 9       b. Suppose the cost to rent a truck is $900.     How many trucks will be rented in the price of a solar panel is $50?     trucks     How many trucks will be…

Che Farty Decent Industries has the following production schedule. The price of the product being produced is $5 in a purely competitive market On the following table, compute the Marginal Revenue Product for every "jump" between one level of workers and the next. Instructions: Enter your answers as whole numbers. Marginal Product Marginal Revenue Product Workers Output/Hour 0. 5. 20 4 20 Eces 10 35 15 45 The hourly wage for workers is $16. Assuming workers must be hired in increments as shown on the table, Fairly Decent Industries will keep hiring workers until it has workers, but no more. Prev 2 3 4 of 4 Next > e here to search %24

part A and B are based on the following data, which are for a pumpkin farmer who can hire pumpkin pickers at $8.50 per day. Number of pickers 1234567890 (e) Briefly explain your answer. (b) (c) Value of pumpkin output $30 48 62 72 80 84 87 A) The profit-maximizing pumpkin farmer should hire only (a) One pumpkin picker because his contribution to output is greatest. (b) Three pumpkin pickers because the fourth costs more than he earns. (c) Four pumpkin pickers because the fifth costs more than he earns. (d) Nine pumpkin pickers because the value of the marginal product of the tenth picker is zero. Ten pumpkin pickers because costs will equal revenue. 89 90 91 The Great Pumpkin, in an attempt to make the pumpkin pickers better off, legislates that pumpkin pickers must be paid a wage no less than $14.50 per day. If our profit-maximizing farmer complies, which of the following will be correct? (a) The quantity of pumpkin output will fall. The value of the average product of labor will…

The market for apple pies in the city of Ectenia is competitive and has the followingdemand schedule:Price Quantity Demanded$ 1 1,200 pies2 1,1003 1,0004 9005 8006 7007 6008 5009 40010 30011 20012 10013 0 ch producer in the market has fixed costs of $9 and the following marginal cost:Quantity Marginal Cost1 pie $ 22 43 64 85 106 12a. Compute each producer’s total cost and average total cost for 1 to 6 pies.b. The price of a pie is now $11. How many pies are sold? How many pies does eachproducer make? How many producers are there? How much profit does eachproducer earn?c. Is the situation described in part (b) a long-run equilibrium? Why or why not?d. Suppose that in the long run there is free entry and exit. How much profit does eachproducer earn in the long-run equilibrium? What is the market price? How many piesdoes each producer make? How many pies are sold in the market? How many pieproducers are operating?

At the given wage and price level, Blewitt's should hire Suppose that the price of blueberries decreases to $12 per pound, but the wage rate remains at $118. On the previous graph, use the purple points (diamond symbol) to plot Blewitt's labor demand curve when the output price is $12 per pound. Now Blewitt's should hire when the output price is $12 per pound. Assuming that all blueberry-producing firms have similar production schedules, a decrease in the price of blueberries will cause the blueberry pickers to Suppose that wages decrease to $100 due to a decreased demand for workers in this market. Assuming that the price of blueberries remains at $12 per pound, Blewitt's will now hire

P $35 $30 $25 $20 $15 $10 $5 $0 5 10 (FIRM) 17 18 20 ATC JAVC F 9 $35 $30 $25 $20 $15 $10 $5 $0 (MARKET) X Consider the perfectly competitive market depicted in the graphs. Assuming the market is in equilibrium, what should this firm do? lay off workers temporarily in the short run keep producing in the short run leave the market permanently in the long run shut down temporarily in the short run

What determines the demand for labor for a firm operation in a perfectly competitive out market?

The table below shows data for the production of Avocados for an individual firm operating in an imperfectly competitive market. Number of workers Number of Avocados Marginal Revenue 0 0 22 10 150 21 20 270 20 30 360 19 40 420 18 50 450 17   Given this data, complete the table: Quantity of Avocados Marginal Product of Labor (MPL) Marginal Revenue Product of Labor (MRPL) 0 - - 10     20     30     40     50

Joan rents ovens at a local shared commercial kitchen to make cakes. The table below shows the number of ovens and the marginal product. Suppose that Joan sells her cakes for $15.00. Ovens Marginal Product (cakes per day) Price per Cake Marginal Revenue Product 0 -- $15.00 -- 1 10 15.00 $150.00 2 8 15.00 120.00 3 6 15.00 90.00 4 4 15.00 60.00 5 2 15.00 30.00 If the cost to rent an oven for the day is $60, how many ovens will Joan rent?   Multiple Choice   three ovens   two ovens   five ovens   four ovens