Answer C and d only 2. Consider Kadokawa.inc, a merchandisingcompany in japan producing keychain with a flatrate of 3$ per keychain.NumberNumber ofMPL TRMRPLkeychainsproducedper dayofWorkers3080110...............135..........20...............17030.....8.15a. 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 outputc. Calculate how many workers should be hiredwhen wage = 40$ per worker perday andwhy?, calculate and prove that the profitearned is optimal at your current quantity oflabor and not at n+1.d. Calculate how many workers should be hiredwhen wage = 55$ per worker, why?, calculateand prove that the profit earned is optimal atyour current quantity of labor and not at n+1.으123|4|5 6|7

Firm will keep on hiring labor until wage rate equals MRPL (Marginal product of labor). Firm…

c. Calculate how many workers should be hired when wage = 40$ per worker perday and why?, calculate and prove that the profit earned is optimal at your current quantity of %3D labor and not at n+1. d. Calculate how many workers should be hired when wage = 55$ per worker, why?, calculate and prove that the profit earned is optimal at your current quantity of labor and not at n+1.

c. Calculate how many workers should be hired when wage = 40$ per worker perday and why?, calculate and prove that the profit earned is optimal at your current quantity of %3D labor and not at n+1. d. Calculate how many workers should be hired when wage = 55$ per worker, why?, calculate and prove that the profit earned is optimal at your current quantity of labor and not at n+1.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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