The information below for a company selling notebooks for BD3 each. No of workers No. of notebooks produced per day MP TR MRP 0 0 1 30 2 80 3 110 4 135 5 20 6 170 7 30 8 15 Fill all the blank in the table.
The information below for a company selling notebooks for BD3 each. No of workers No. of notebooks produced per day MP TR MRP 0 0 1 30 2 80 3 110 4 135 5 20 6 170 7 30 8 15 Fill all the blank in the table.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The information below for a company selling notebooks for BD3 each.
|
No of workers |
No. of notebooks produced per day
|
MP |
TR |
MRP |
|
0 |
0 |
|
|
|
|
1 |
30 |
|
|
|
|
2 |
80 |
|
|
|
|
3 |
110 |
|
|
|
|
4 |
135 |
|
|
|
|
5 |
|
20 |
|
|
|
6 |
170 |
|
|
|
|
7 |
|
|
|
30 |
|
8 |
|
|
|
15 |
- Fill all the blank in the table.
- If the company must pay a wage rate of BD40 per week, how many workers should it hire? Explain why.
- Suppose the wage rate rises to BD50 per week. How many workers should be hired now? Why?
- Now suppose that the company buys new technology that doubles output at each level of employment and that the price of notebooks remains at BD3. What is the effect of the new technology on MP? MRP? At a wage of BD50 how many workers the company should hire now?
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