An apple farmer produces apples, while using the labor she hires as the input. Apples sell...

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An apple farmer produces apples, while using the labor she hires as the input. Apples sell for $2 per apple, while it costs t

business economics

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Answer 1

Answer #1

Number of apples sold = 70

Revenue by selling 70 units of Apple = 70*$2 = $140

Profit is $60

Expenses or labour cost = $140 - $60 = $80

Labour cost per unit = $10

Number of labour required = $80/$10 = 8]

The farmer needs to hire 8 units of labour to get the profit of $60 by selling 70 apples.

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Answer 2

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