Question: please help me to solve all this question please. 1. Name the unnamed curves in diagram Note: numbers for the firm not in thousands (k),

please help me to solve all this question please.

please help me to solve all this question please. 1. Name the

1. Name the unnamed curves in diagram Note: numbers for the firm not in thousands (k), but are for the market Diagram (competitive employer & competitive labor market) one firm's MRP Market for labor a. Average Revenue Product of labor curve (TR =Qlabor) $300/person Slabor ARP labor b. Marginal Income of $200/person labor to Union curve "MRP- $100/person 2. Using the diagram DlapOF Determine the following 60 120 140k 3. price of labor or competitive equilibrium wage (we) = 4. total employment in this labor market = 5. What condition is satisfied at that equilibrium wage (we) 6. determine the following for one firm at the competitive equilibrium wage (we) = (a) the firm MFClabor = (b) the quantity employed by the one firm= (c) the wage bill (total labor costs) to the firm= (d) the total revenue earned by the firm = (e) Determine the Marginal Product of the last unit labor hired, if the price and marginal revenue of the product produced by the firm (apples) using labor is $10/crate = 7. determine the following if the supply of laborers forms a union and union leaders' objective is: (a) to maximize total employment (1.) wage that maximizes total employment = (2.) total employment at that wage = (b) to maximize aggregate income (1) wage that maximizes aggregate income = (2) total employment at that wage = 8. List the components of MRP b . 9. Name the economic principle that causes the MRPlabor to diminish as more labor is bought and used by the firm when the firm adds additional unit of labor 10. Name mathematical principle that causes the Average Revenue Product of labor to diminish as more labor is used by the firm

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