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 19 143 20 136 question: Cookies sell for $2.50 each and each requires $0.50 in ingredients. (The Black Sheep uses quality chocolate!) Graph the demand for labor as a function of the wage using the data in table 1. What happens to the number of workers hired when wages go up? How many workers will be hired and how many cookies made at a wage of $26? How many workers will be hired and how many cookies made if the wage falls to $14?
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 |
|
19 |
143 |
|
20 |
136 |
question: Cookies sell for $2.50 each and each requires $0.50 in ingredients. (The Black Sheep uses quality chocolate!) Graph the demand for labor as a function of the wage using the data in table 1. What happens to the number of workers hired when wages go up? How many workers will be hired and how many cookies made at a wage of $26? How many workers will be hired and how many cookies made if the wage falls to $14?
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