Question: d) We now have another shock and that is it is next to impossible to keep workers at $100 per day - so you decide

 d) We now have another shock and that is it is

next to impossible to keep workers at $100 per day - so

d) We now have another shock and that is it is next to impossible to keep workers at $100 per day - so you decide to raise wages to keep your workers and that new wage is $120 per day. Please fill in the following table (10 points). TABLE 2 (Note: W = $120) N Y MPN MRPN Marginal Profit Total Profit 0 P = P = P = $10 P = $12 P = $10 P = $12 $10 $12 1 20 2 38 3 53 4 66 5 77 6 86 7 93 e) (5 points) How many workers will you hire and what is your maximum profit in nominal terms when the price of your output is $10? In real terms? Note, this is when the wage is $120. () (5 points) How many workers will you hire and what is your maximum profit in nominal terms when the price of the output is $12? In real terms? Note, this is when the wage is $120. g) ( 10 points) In the space below, draw two supply curves - redraw the supply curve from part c) above (with points A and B) and then add the new supply curve when wages are $120. Be sure to put all the shift variables in parentheses next to the two supply

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