1 answer

Wanda's is a fish store that hires students to pack the fish. The table shows the...

Question:

Wandas is a fish store that hires students to pack the fish. The table shows the amounts of fish that students can pack. TheWandas is a fish store that hires students to pack the fish. The table shows the amounts of fish that students can pack. The

Wanda's is a fish store that hires students to pack the fish. The table shows the amounts of fish that students can pack. The fish market is competitive and the price of fish is 50¢ a kilogram. The market for packers is competitive and their market wage rate is $10 an hour. Value of marginal product Number of students Quantity of fish (kilograms per hour) 90 (dollars per hour) At Wanda's fish store, packers' wages increase to $10 an hour, but the price of fish remains at 50¢ a kilogram. 15 What happens to the value of marginal product of labour? What happens to Wanda's demand for labour curve? How many students does Wanda's employ? 120 145 Calculate the value of marginal product of the students and fill in the right column of the table. >>> Answer to 1 decimal place. When the wage rate rises from $7.50 to $10.00 an hour, the value of marginal product and Wanda's demand for labour curve 165 - 180 O A. does not change; does not change O B. does not change; shifts rightward O C. increases; shifts rightward O D . decreases; shifts leftward students a day. When the wage rate is $10.00 an hour, Wanda's employs >>> Answer to 1 decimal place.
Wanda's is a fish store that hires students to pack the fish. The table shows the amounts of fish that students can pack. The fish market is competitive and the price of fish is 50¢ a kilogram. The market for packers is competitive and their market wage rate is $10 an hour. Value of marginal product Number of students Quantity of fish (kilograms per hour) 90 (dollars per hour) At Wanda's fish store, packers' wages increase to $10 an hour, but the price of fish remains at 50¢ a kilogram. 15 What happens to the value of marginal product of labour? What happens to Wanda's demand for labour curve? How many students does Wanda's employ? 120 145 Calculate the value of marginal product of the students and fill in the right column of the table. >>> Answer to 1 decimal place. When the wage rate rises from $7.50 to $10.00 an hour, the value of marginal product and Wanda's demand for labour curve 165 - 180 O A. does not change; does not change O B. does not change; shifts rightward O C. increases; shifts rightward O D . decreases; shifts leftward students a day. When the wage rate is $10.00 an hour, Wanda's employs >>> Answer to 1 decimal place.

Answers

The values in the table are correct

Option A is correct because when there is a change in the wage rate, labour demand does not change but there is a movement along the demand curve. In this case, marginal product remains unchanged with the change in the wage rate and because price is fixed by the competitive market, value of the marginal product of labour does not change

Optimal hiring will be 6 students per day. This is because when sixth student is hired the value of the marginal product of labour and wage rate both are equal to $10.

.

Similar Solved Questions

1 answer
Integrative Pro forma statements Red Queen Restaurants wishes to prepare financial plans. Use the financial statements...
Integrative Pro forma statements Red Queen Restaurants wishes to prepare financial plans. Use the financial statements and the other information provided here囲to prepare the financial plans. The following financial data are also available (1) The firm has estimated that its sales for 2016 wil...
1 answer
The following data describes percentage of satisfied customers at Touchdown Sporting Goods. Complete the frequency table...
The following data describes percentage of satisfied customers at Touchdown Sporting Goods. Complete the frequency table for this data. 86.9,80.8,91.1,77.4.85.6, 84.3, 86.6, 77.8, 88.6, 87.2, 87.3.93.1.95.8, 90.8, 84.9.79.1.86.1,80.3 Copy Data Determine the frekuency of each class in the table shown...
1 answer
Comments and calculation please Table 3 gessir pPESUre ral bator Pa S7.S IS 703 9 296o2...
Comments and calculation please Table 3 gessir pPESUre ral bator Pa S7.S IS 703 9 296o2 R47 39 i s17너 10006 2. 2q.S compare betaren he lata oblaincel in Tabk 3 then discuss the reasons oF dlisctepanc and scurca scurces oF esor...
1 answer
A random sample of 144 checking accounts at a bank showed an average daily balance of...
A random sample of 144 checking accounts at a bank showed an average daily balance of $295. The standard deviation of the population is known to be $72. Please answer the following questions: (a) Find the standard error of the mean. (b) Give a point estimate of the population mean. (...
1 answer
3. A local authority suspects that the amount per container is less than 16 oz (as...
3. A local authority suspects that the amount per container is less than 16 oz (as advertised). After extracting a random sample, the inspector found that the sample mean indeed is less than 16 oz. Select the correct statement: (5 points) (a) This is an upper-tail test (b) This is a lower-tail test ...
1 answer
A decrease in supply and an increase in quantity demanded. O an increase in supply and...
a decrease in supply and an increase in quantity demanded. O an increase in supply and an increase in quantity demanded. QUESTION 13 Price Quantity Demanded Quantity Supplied $45 350 300 250 200 150 100 50 60 65 70 50 100 150 200 Refer to the table above. If the market is originally in equilibrium a...
1 answer
QUESTION CONTEXT: Kenya's flying vegetables (and flowers) GlobalPost September 07, 2009 · 1:26 PM UTC By...
QUESTION CONTEXT: Kenya's flying vegetables (and flowers) GlobalPost September 07, 2009 · 1:26 PM UTC By Katrina Manson LONDON — Kenya's exports of 450,000 tons of vegetables, fruit and flowers to Britain and European markets have become the East African country's fastest gr...
1 answer
7P A n a r The position of a block moving outward along the slot in...
7P A n a r The position of a block moving outward along the slot in the platform is r = 0.022 t^4 m/s where r is in m and t is in seconds. The platform angular velocity increases at a constant rate of 0.5 rad/s/s. If the block and platform start from rest at r = 0 (the center), determine the magni...
1 answer
Southwest Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a...
Southwest Milling Co. purchased a front-end loader to move stacks of lumber. The loader had a list price of $123,360. The seller agreed to allow a 4.75 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point. Transportation cost amounted to $2,900. Southwest Mill...
1 answer
Curretil Allempl in Progress Waterway Company purchased a machine at a price of $96,200 by signing...
Curretil Allempl in Progress Waterway Company purchased a machine at a price of $96,200 by signing a note payable, which requires a single payment of $135,154 in 3 years. Click here to view factor tables Assuming annual compounding of interest, what rate of interest is being paid on the loan? (Round...
1 answer
In an experiment, you need to create 275 mL of a 1M solution. You have 2L...
In an experiment, you need to create 275 mL of a 1M solution. You have 2L of a 5M stock solution. Calculate how much stock solution you would need to mix with water to make a 1M solution.You would take mL of the 5M stock solution in a flask and add mL of distilled water.Answers should be numerical (...
2 answers
How much of the total energy that leaves the sun makes it to earth? Why?
How much of the total energy that leaves the sun makes it to earth? Why?...
1 answer
The moment generating function of a random variable X is as follows: 1-Xt Find the probability...
The moment generating function of a random variable X is as follows: 1-Xt Find the probability that X is within 0.5 standard deviation from its mean....
1 answer
5. What happens when a source is connected to a load? 6. What are five different...
5. What happens when a source is connected to a load? 6. What are five different types of sources? 7. What does the amount of current depend on? 8. What does electrical resistance depend on? 9. What is the primary purpose of an electrical circuit (one word here)...
1 answer
The below grid represents the map of your neighborhood. Your home is at the corner labeled...
The below grid represents the map of your neighborhood. Your home is at the corner labeled A, while your work is at the corner labeled B. The corner marked with is your favorite coffee shop. (a) How many different paths of minimal length are there from your home to your work? b) How many different p...
1 answer
Help with #18 please MC (Аус -MRP 18. Refer to the above diagrams which pertain to...
Help with #18 please MC (Аус -MRP 18. Refer to the above diagrams which pertain to a purely competitive firm producing output, and the industry in which it operates. In the long run we should expect: A. Firms to enter the industry, market supply to rise, and product price to fal...
1 answer
What measures of “intelligent regulation” would you recommend for reducing substance abuse in your community? Why?
What measures of “intelligent regulation” would you recommend for reducing substance abuse in your community? Why?...