Question

AutoSave CH HUS. Unit test 3 - Word Search A Lacloen kaur khehra LK File Home Insert Draw Design Layout References Mailings Review View Help Share Comments Copy Calibri (Headings - 12 A A A A BIUX, * A-D-A- +55 21 EEEE AaBbccc Aabbccc AaBbc AaBbcc AaB AaBbCD AaBbcc 1 No SpacHeading 1 Heading 2 Subtitle Subtle Em. Peste Nommal Find Replace Select Editing Dictate Title Editor Sensitivity Format Painter Cipboard Font Paragraph Voice Sensity Editor L Styles 1..................................... Unit Test #3 - ECON 201 (July 29, 2020) Problem 3 Markets for Factors of Production (20 points) Areandina's Coffee Shop hires workers to make their latté coffees. The market for latte cottee is perfectly competitive, and latte cottees sell for $4.00 each. The labour market is competitive, and the wage rate is $10 per day. Table 1 shows the workers' total product, TP. Workers Latte Coffees produced per day 7 21 33 z 3 4 43 5 6 51 55 Table 1 al Calculate the marginal product of hiring the fourth worker, b) Calculate the value of the marginal product of the fourth worker c) How many workers will Arcandina's hire to maximize profit? d) How many latté coffees per day will Areandina's produce to maximize profit? c) If the price of latté coffee rises to $5, how many workers will Arcandina's hire? D Focus E TA Page 4 of 5558 word: D English (United States) Type here to search O ! e ENG U5 1:15 PM 7/29/2020

Answer 1

que wonten TR TP 7. TC yo Po 120 2 mp 7 14 12 10 11 3 4 S 6. 33 42 SI 55 84 132 172 204 220 200 240 9 0 Jo 드 3 MP from 4rth worker hirpay is UMP (Price) (MP) (40) (10) 400 Now Profit TR-TC and profit i wheth Areandina Hires Hires 4 worken 6 She will Produce.. 43 units ☺ cs), then she will worken max efice nire 5