Table 1. Chocolate chip cookie output and number of workers. Cookies sell for $2.50 each. Ingredients (butter, eggs, flour, nuts, sugar, vanilla how many workers will be hired and how many cookies made if the wage falls to $14) cost $0.50 for each cookie.Workersoutput( brownies)1102343574785976114712981429152101591116312164131641416315161161581715418149 question: Nick could buy a 2nd He estimates that the 2nd oven would raise output for any given number of workers as indicated in table 2. How many workers will be hired and how many cookies produced with two ovens at a wage of $26? Would your answer change any if there is a limited market for chocolate chip cookies so that Nick would have to lower the price of cookies to sell more? Table 2. Workers and output, two ovensWorkersoutput1402 793 1174 154519062247256828693141034011364123861340614424154391645217462184691947320474

For each unit:P=MC + wage rate of labors Or, P*output = MC*output + Worker * WageWage =…

Answered: Table 1. Chocolate chip cookie output…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Table 1. Chocolate chip cookie output and number of workers. Cookies sell for $2.50 each. Ingredients (butter, eggs, flour, nuts, sugar, vanilla how many workers will be hired and how many cookies made if the wage falls to $14) cost $0.50 for each cookie.

Workers	output( brownies)
1	10
2	34
3	57
4	78
5	97
6	114
7	129
8	142
9	152
10	159
11	163
12	164
13	164
14	163
15	161
16	158
17	154
18	149

question:

Nick could buy a 2^nd He estimates that the 2^nd oven would raise output for any given number of workers as indicated in table 2. How many workers will be hired and how many cookies produced with two ovens at a wage of $26? Would your answer change any if there is a limited market for chocolate chip cookies so that Nick would have to lower the price of cookies to sell more?

Table 2. Workers and output, two ovens

Workers	output
1	40
2	79
3	117
4	154
5	190
6	224
7	256
8	286
9	314
10	340
11	364
12	386
13	406
14	424
15	439
16	452
17	462
18	469
19	473
20	474

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