Consider the production function by workers hired by owner Gabriela at Head Area Salon in the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Consider the production function by workers hired by owner Gabriela at Head Area Salon in the table below. Haircuts are $20/cut. a. Find the MPL. b. Find Gabriela's demand for workers if the wage of workers is $900/Week. c. Find her demand for workers if the wage falls to $400/Week. MPL (Haircuts/Worker/Week) L (Number of workers) 1 2 3 4 5 Q (Haircuts/Week) 40 75 105 130 150 Consider the production function by workers hired by owner Gabriela at Head Area Salon in the table below. Haircuts are $20/cut. a. Find the MPL. b. Find Gabriela's demand for workers if the wage of workers is $900/Week. c. Find her demand for workers if the wage falls to $400/Week. MPL (Haircuts/Worker/Week) L (Number of workers) 1 2 3 4 5 Q (Haircuts/Week) 40 75 105 130 150
Expert Answer:
Answer rating: 100% (QA)
a The Marginal Product of Labor MPL is calculated by finding the change in output Q divided by the c... View the full answer
Related Book For
Posted Date:
Students also viewed these economics questions
-
The Pierce Company had the following data (in thousands) for a given period: There was no beginning or ending inventories. Compute the (1). Manufacturing cost of goods sold, (2). Gross profit, (3)....
-
2) Nyatakan tugas-tugas utama, dan senaraikan serta jelaskan jenis maklumat (kewangan dan bukan kewangan) yang dapat membantu proses pembuatan keputusan oleh: i. Andika Yussofe ii. Fazura iii. Aqmal...
-
Arbitration, mediation, reference to a third person , an association tribunal, summary jury trial, rent-a-judge, minitrials and judicial triage, are all forms of what is known as?
-
A chemical factory discharges waste products into a river. The waste products affect a fishery downstream. Suppose MD = 6E and MAC = 600 - 4E. Consider a liability law requiring the polluter to...
-
Consider that the quantities listed in the table of Problem 3.50 have Btu's. Determine the missing entries. Process -200 600 Q1-2 3 200 -600 04-1
-
What are the tax implications of a taxpayer's self construction of assets for use in the taxpayer's trade or business?
-
\(4 \times(5+2 \times(6+8))+10 \times 3^{2}\) Perform the indicated calculation.
-
The Sports Equipment Division of Harrington Company is operated as a profit center. Sales for the division were budgeted for 2014 at $900,000. The only variable costs budgeted for the divisions were...
-
Let's assume you have been hired as the fraud manager for a privately-held company whose main business is administering the disposition of assets left in estates for wealthy individuals in accordance...
-
Buckeye Manufacturing produces heads for engines used in the manufacture of trucks. The production line is highly complex, and it measures 900 feet in length. Two types of engine heads are produced...
-
30-year government bond has a 4 percent interest rate. If inflation is expected to average 1.5 percentage points over both the next 30 years and real rate of 1% determine the maturity risk premium...
-
The amplitude of a machine subject to a rotating unbalance approaches one for large frequencies. Indicate whether the statement presented is true or false. If true, state why. If false, rewrite the...
-
The steady-state response of a linear SDOF system occurs at the same frequency as the excitation. Indicate whether the statement presented is true or false. If true, state why. If false, rewrite the...
-
In the equation \(x(t)=X \sin (\omega t-\phi)\), when is \(\phi\) negative?
-
\(T(r, \zeta)\) approaches 1 for large \(r\) for all values of \(\zeta\). Indicate whether the statement presented is true or false. If true, state why. If false, rewrite the statement to make it...
-
\(\quad M(r, \zeta)\) approaches 0 for large \(r\) for all values of \(\zeta\). Indicate whether the statement presented is true or false. If true, state why. If false, rewrite the statement to make...
-
A political party is: a branch of the federal government an organization established by the Constitution to nominate candidates for office an organization that tries to influence the government by...
-
In Problems, solve each system of equations. x + 2y + 3z = 5 y + 11z = 21 5y + 9z = 13
-
Why is it wise to bid conservatively in a common values auction?
-
At the quantity of output at which the monopolist maximizes total profit, is the monopolist's total revenue maximized? Explain.
-
A homogeneous products duopoly faces a market demand function given by P = 300 - 3Q, where Q = Q1 + Q2. Both firms have a constant marginal cost MC = 100. a) What is Firm 1's profit-maximizing...
-
Where is the home office of the Association of Certified Fraud Examiners? Would all of its members have an accounting and auditing background? Does the group have a Code of Ethics?
-
Should a forensic accountant express an opinion in a report regarding the guilt or innocence of any person or party?
-
What certificate does the FASNA group issue?
Study smarter with the SolutionInn App