A retailer has to pay $9 per hour to hire 13 workers. If the retailer only...
Homework Answers
For having 13 workers the total cost = $117 (13
workers*$9/hr)
For having 12 workers the total cost = $84 (12 worker*$7/hr)
So, the marginal cost , extra cost of having one more worker i.e
13th worker = $117 –$ 84 = $33
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A retailer has to pay $9 per hour to hire
13 workers. If the retailer only...
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5. Suppose you hire workers to address and stamp envelopes. Each worker earns $5 per hour...
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1. Live Happley should hire (one, two, three, four, or five) worker 2. Now Live Happley...
1. Live Happley should hire (one, two, three, four, or five)
worker
2. Now Live Happley should hire (one, two, three, four, or five)
workers
3. An increase in the price of strawberries will cause the
(Supply of/demand for) strawberry pickers to
(decrease/increase)
4. Live Happley will now hire (one, two, three, four, or five)
workers
4. Profit maximization Consider Live Happley Fields, a small player in the strawberry business whose production has no individual effect on wages and prices....
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Deciding how many workers to hire: Assume that the initial price of shoes in this example...
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1. Live Happley should hire (one, two, three, four, or five)
worker
2. Now Live Happley should hire (one, two, three, four, or five)
workers
3. An increase in the price of strawberries will cause the
(Supply of/demand for) strawberry pickers to
(decrease/increase)
4. Live Happley will now hire (one, two, three, four, or five)
workers
4. Profit maximization Consider Live Happley Fields, a small player in the strawberry business whose production has no individual effect on wages and prices....
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