ect Question 10 0/0.1 pts A monopsonist has the production function Q = 4.1 and faces the following labor supply an...
Question 9 0.1 pts A monopsonist has the production function Q=4.1 and faces the following labor supply and product demand equations respectively. W = 2 + 0.05L P = 10 – 0.025.Q How much labor should the firm hire in order to maximize profits if they mark their price 300% above marginal cost?
0/0.1 pts Incorrect Question 9 A monopsonist has the production function Q=4.L and faces the foflowing labor supply and product demand equations respectively W= 2+ 0.05 L P= 10-0.025 Q How much labor should the firm hire in order to maximize profits if they mark their price 300% above marginal cost? 60
please i need the answers. the questions are related, you need to find questions 9 then 10 Incorrect Question 9 0/0.1 pts A monopsonist has the production function Q = 4. and faces the following labor supply and product demand equations respectively. W = 2+ 0.05.L P 10 -0.025 How much labor should the firm hire in order to maximize profits if they mark their price 300% above marginal cost? 1st, what is the marginal cost of production and how...
Also, what wage rate will the monopsonist pay? A. $3 B. $6 C. $12 D. $9 ect Question 6 0/0.1 pts Refer to the graph below. How much labor will the monopsonist hire? MLC: $18 $15 -... $12 - $9 ----- $6 ------- 16 24 32 4048
A monopsonist faces the following demand curve for their product: P = 20 - 0.005 XQ and the following labor supply curve: W = 10+ 0.05 x L If the firm does not mark-up the price over marginal cost, what is the profit-maximizing wage when average labor productivity is 5?
1 a 1b 1c Refer to the graph below. How much labor will the monopsonist hire? S MLC $18 $15 $12 $9 $6 $3 L 8 16 24 32 40 48 16 24 32 co Refer to the graph below. What wage rate will the monopsonist pay? W MLC S $18 $15 $12 $9 $6 D L 16 24 32 40 48 $6 $9 $12 $3 $3 A firm faces the following labor supply curve: W 8 04 L What...
please anwser all questions. thank you so much! Aa Aa Undershaft Industries is a monopsonist. The following graph shows the labor supply curve it faces (labeled "S"), its marginal revenue product curve (labeled "MRP"), and its marginal rèsource cośt curve (labeled MRC). WAGE (Dollars per hour 50 MR 40 MRP 30 20 10 10 20 30 40 QUANTITY OF LABOR INumber of werkersl Undershaft faces an upward-sloping above its labor supply curve. labor supply curve. Therefore, its marginal resource cost...
Exercise 1 Question B3 (2010) function: A firm faces the following production The firm is perfectly competitive and hires its machines at a constant rental rate of r = 5 euros per hour and its workers at a constant wage rate of w 4 euros per hour. It can also sell as much output as it wishes at the ruling market price of P 40 euros. 1 Find the most profitable output, the profits at this output, and the corre-...
Question 10 Tries remaining: 2 Suppose that a firm had a production function given by: q=Lºkº. The wage rate (w) is $10 and the rental rate () is $10. Calculate the amount of labor the firm would hire when it produces 300 units of output in a cost-minimizing way. (Round to the nearest 2 decimal places if necessary.) Points out of 10.00 P Flag question Answer: Check
1. Imagine a firm has the following short-run production function: q=f(L,K) = K L – L? Assume K = 25. a. Fill in the following table. (First, find the total output from the production function, then find the marginal product by dividing the change in total output by change in labor.) Capital MPL Labor 7 Total Output 126 APL 18 25 12 25 25 25 25 25 10 11 12 13 14 15 25 25 25 b. How many units...