This table shows the number of cappuccinos that can be made per hour given each number of baristas working at the cafe. For example one barista can make 10 cappuccinos per hour. Q (Workers per day) (Cappuccinos per hour) 1 10 2 15 3 19 4 22 24 25 Suppose that the wage rate for baristas is £9 per hour and the average price of cappuccino is £3. (a) The profit-maximizing number of barristas is AF (b) If the market wage increased £12 per hour, the profit-maximizing number of barristas would be all else remaing equa? (c) If the market wage remained at £9 per hour but the price of cappuccino increased to £4.50, the profit-maximizing number of barristas would be 数字 , all else remaing equal. (d) If the market wage remained at £9 per hour and the price of cappuccino at £3 but baristas all became 10% more productive because of an improvement in the way cappuccinos are made, then the new profit-maximizing number of barristas would be 数字 all else remaing equal

This table shows the number of cappuccinos that can be made per hour given each number of baristas working at the cafe. For example one barista can make 10 cappuccinos per hour. Q (Workers per day) (Cappuccinos per hour) 1 10 2 15 3 19 4 22 24 25 Suppose that the wage rate for baristas is £9 per hour and the average price of cappuccino is £3. (a) The profit-maximizing number of barristas is AF (b) If the market wage increased £12 per hour, the profit-maximizing number of barristas would be all else remaing equa? (c) If the market wage remained at £9 per hour but the price of cappuccino increased to £4.50, the profit-maximizing number of barristas would be 数字 , all else remaing equal. (d) If the market wage remained at £9 per hour and the price of cappuccino at £3 but baristas all became 10% more productive because of an improvement in the way cappuccinos are made, then the new profit-maximizing number of barristas would be 数字 all else remaing equal

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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