You guys did the first table for me. I just completed the second. Can you just check my work on the second table for me. You dont need to take the time to write it out like you did for the first one just a simple correct or not correct would be great and if you can show me what I did wrong. Thanks Jarrod ChiaramonteQL12346.781842781231631882032111-2= 24.2-3= 36.3-4= 46.4-5= 40.5-6= 25.6-7= 15.7-8= 8.The Production table above represents daily production of product XThe only variable resource is laborThe fixed cost is $150/dayA work day is 8 hours.Px = Price of product X#L is the number of laborers hired to maximize profit; Q is the total quantity of product X produced to achieve profitmaximizationGiven the above conditions and the production table above, fill in the two tables belowPL = $12/hr.Px#LProfit5163-1416.1882147720359910720311921272031614中PL = $15/hr.Px#LProfit118-21618870718844610720310401272031446

The profit maximizing firm would employ the labor where the marginal product of labor is equal to or…

Answered: Jarrod Chiaramonte QL 1 2 4 5 7 8 18 42…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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You guys did the first table for me. I just completed the second. Can you just check my work on the second table for me. You dont need to take the time to write it out like you did for the first one just a simple correct or not correct would be great and if you can show me what I did wrong. Thanks

Jarrod Chiaramonte
QL
1
2
3
4
6.
7
8
18
42
78
123
163
188
203
211
1-2= 24.
2-3= 36.
3-4= 46.
4-5= 40.
5-6= 25.
6-7= 15.
7-8= 8.
The Production table above represents daily production of product X
The only variable resource is labor
The fixed cost is $150/day
A work day is 8 hours.
Px = Price of product X
#L is the number of laborers hired to maximize profit; Q is the total quantity of product X produced to achieve profit
maximization
Given the above conditions and the production table above, fill in the two tables below
PL = $12/hr.
Px
#L
Profit
5
163
-141
6.
188
214
7
7
203
599
10
7
203
1192
12
7
203
1614
中
PL = $15/hr.
Px
#L
Profit
1
18
-216
188
70
7
188
446
10
7
203
1040
12
7
203
1446

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