2. Consider Kadokawa.inc, a merchandisingcompany in japan producing keychain with a flatrate of 3$ per keychain.NumberNumber ofMPL TRMRPLkeychainsproducedper dayofWorkers13028031104135... ..520170730...............8.15а.Fill in all the blanks in the table aboveb. Verify that MRPL for this firm can becalculated in two ways: (1) change in TRfrom an additional worker and (2) MPL timesthe price of output

Answered: 8 . 15 .... .... ..... a. Fill in all…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. Consider Kadokawa.inc, a merchandising
company in japan producing keychain with a flat
rate of 3$ per keychain.
Number
Number of
MPL TR
MRPL
keychains
produced
per day
of
Workers
1
30
2
80
3
110
4
135
... ..
5
20
170
7
30
.....
.....
.....
8.
15
а.
Fill in all the blanks in the table above
b. Verify that MRPL for this firm can be
calculated in two ways: (1) change in TR
from an additional worker and (2) MPL times
the price of output

Expert Solution

STEP 1 (INTRODUCTION)

According to MPTD (Marginal Productivity Theory of Distribution) factors of production such as labour or capital are paid as per their marginal productivity. Thus, the value of the marginal product of labour is the demand curve for labour.

STEP 2 (EXPLANATION part 1)

Numbers of workers	Number of keychains produced per day	MP_L	TR	MRP_L
0	0	0	0	0
1	30	30	90	90
2	80	50	240	150
3	110	30	330	90
4	135	25	405	75
5	155	20	465	60
6	170	15	510	45
7	180	10	540	30
8	185	5	555	15

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