The following table reports the marginal product of the first 16 workers a tomato grower could...

 

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The following table reports the marginal product of the first 16 workers a tomato grower could hire, that is, it tells us how many extra tomatoes each worker could grow. The tomato grower has monthly fixed costs of $50. The monthly wage of each worker is also $50. The tomato grower participates in a perfectly competitive market where there are currently 1000 identical growers. They sell boxes of tomatoes which contain 1500 tomatoes each and currently the market price of these boxes is $200. Worker 1 MP Worker MP 400 9 500 23 500 10 400 600 11 350 4 700 12 300 5 800 13 275 CO 6 800 14 250 78 700 15 225 600 16 100 Task 1.1: Use the information provided to fill the following table. Qsupply # workers needed TFC 0 1 2 3 4 5 TVC TC MC MR The following table reports the marginal product of the first 16 workers a tomato grower could hire, that is, it tells us how many extra tomatoes each worker could grow. The tomato grower has monthly fixed costs of $50. The monthly wage of each worker is also $50. The tomato grower participates in a perfectly competitive market where there are currently 1000 identical growers. They sell boxes of tomatoes which contain 1500 tomatoes each and currently the market price of these boxes is $200. Worker 1 MP Worker MP 400 9 500 23 500 10 400 600 11 350 4 700 12 300 5 800 13 275 CO 6 800 14 250 78 700 15 225 600 16 100 Task 1.1: Use the information provided to fill the following table. Qsupply # workers needed TFC 0 1 2 3 4 5 TVC TC MC MR