d. Calculate the number of workers that will be hired if the nominal wage rate = $140. Calculate the number of workers the firm will hire if the nominal wage is $110. Calculate the number of workers that the firm will hire if the nominal wage is $90. Please show your work.Ande. Why exactly does the firm's behavior change when the nominal wage fall like it did, all else constant? In particular, explain exactly why the firm changes their labor input when nominal wages fall from $140 to $110, all else constant. Make sure you refer to the profit maximizing condition when answering this question

 

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h Number of workers 0 1 2 3 4 5 6 7 Dofing +1. Units of output 0 23.7 33.4 46.12 47.42 53.1 57.45 60.69 MPN 0 23.7 9.7 12.72 1.3 5.68 4.35 3.24 MRPN (P=6) 0 142.2 58.2 76.32 7.8 34.08 26.1 19.44 h Number of workers 0 1 2 3 4 5 6 7 Dofing +1. Units of output 0 23.7 33.4 46.12 47.42 53.1 57.45 60.69 MPN 0 23.7 9.7 12.72 1.3 5.68 4.35 3.24 MRPN (P=6) 0 142.2 58.2 76.32 7.8 34.08 26.1 19.44

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1 Number of workers if nominal wage is 140 The firms objective is to maximize profits revenue costs ... View the full answer