Question: I don't understand this question pls help!! It's 1 and 2. They both have multiple choice. For #1 letter E is WRONG!! For #2 letter

 I don't understand this question pls help!! It's 1 and 2.

I don't understand this question pls help!! It's 1 and 2. They both have multiple choice. For #1 letter E is WRONG!! For #2 letter E is WRONG TOO. Thanks!!

They both have multiple choice. For #1 letter E is WRONG!! For

1 )A firm that produces bracelets sells the bracelets for $1. The firm can adjust its labor use, which costs $80 per unit, in the short run based on the following production function data A| 1 B) 2 C) 3 D)4 E)5 Units of Labor Total Number of Bracelets Produced 1 160 2 280 3 380 4 460 15 500 How many units of labor should the firm hire to maximize its profit and minimize costs?" 2) A firm pays $10 per unit of labor in a perfectly competitive labor market and produces sprockets, which sell at $4 per unit. The marginal product of the 12th unit of labor is 25 sprockets. What is its marginal revenue product of labor, and should the firm hire more laborni Al $100; yes it should B) $100; no it should not CI $120; no it should not D)$250; no it should not E) $460; yes it should o search g e

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!