Wage rate.

Question

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Answer 1

Question

Chapter 18, Problem 5PA

Subpart (a):

To determine

Wage rate.

Subpart (a):

Expert Solution

Explanation of Solution

Daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×2=200−4L$

Wage is $200−4L$ .

Rearrange the wage equation in terms of labor $L=50−0.25W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×20=1,000−5W$

Labor demand is $1,000−5W$ .

Subpart (b):

To determine

Calculate wage rate, profit and income.

Subpart (b):

Expert Solution

Explanation of Solution

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−5W5W=1,000−200W=8005=160$

Wage is 160.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20020=10$

Each firm employs 10 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×10)=((100(10)−(10)2)×2)−(160×10)=1,800−1,600=200$

Total profit for each firm is 200.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(200×20)+(160×200)=36,000$

Total income is $36,000.

Subpart (c):

To determine

Calculate wage rate and income.

Subpart (c):

Expert Solution

Explanation of Solution

New daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×4=400−8L$

Wage is $400−8L$ .

Rearrange the wage equation in terms of labor $L=50−0.125W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.125W)×20=1,000−2.5W$

Labor demand is $1,000−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−2.5W2.5W=1,000−200W=8002.5=320$

Wage is 320.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×4)−(320×10)=((100(10)−(10)2)×4)−(320×10)=3,600−3,200=400$

Total profit for each firm is 400.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(400×20)+(320×200)=72,000$

Total income is $36,000.

Subpart (d):

To determine

Calculate profit and income.

Subpart (d):

Expert Solution

Explanation of Solution

Market demand function after the destruction can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×10=500−2.5W$

Labor demand is $500−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=500−2.5W2.5W=500−200W=3002.5=120$

Wage is 120.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20010=20$

Each firm employs 20 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×20)=((100(20)−(20)2)×2)−(120×20)=3,200−2,400=800$

Total profit for each firm is 800.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(800×10)+(120×200)=32,000$

Total income is $32,000. The total income decreased.

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Answer 2

Question

Chapter 18, Problem 5PA

Subpart (a):

To determine

Wage rate.

Subpart (a):

Expert Solution

Explanation of Solution

Daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×2=200−4L$

Wage is $200−4L$ .

Rearrange the wage equation in terms of labor $L=50−0.25W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×20=1,000−5W$

Labor demand is $1,000−5W$ .

Subpart (b):

To determine

Calculate wage rate, profit and income.

Subpart (b):

Expert Solution

Explanation of Solution

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−5W5W=1,000−200W=8005=160$

Wage is 160.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20020=10$

Each firm employs 10 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×10)=((100(10)−(10)2)×2)−(160×10)=1,800−1,600=200$

Total profit for each firm is 200.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(200×20)+(160×200)=36,000$

Total income is $36,000.

Subpart (c):

To determine

Calculate wage rate and income.

Subpart (c):

Expert Solution

Explanation of Solution

New daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×4=400−8L$

Wage is $400−8L$ .

Rearrange the wage equation in terms of labor $L=50−0.125W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.125W)×20=1,000−2.5W$

Labor demand is $1,000−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−2.5W2.5W=1,000−200W=8002.5=320$

Wage is 320.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×4)−(320×10)=((100(10)−(10)2)×4)−(320×10)=3,600−3,200=400$

Total profit for each firm is 400.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(400×20)+(320×200)=72,000$

Total income is $36,000.

Subpart (d):

To determine

Calculate profit and income.

Subpart (d):

Expert Solution

Explanation of Solution

Market demand function after the destruction can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×10=500−2.5W$

Labor demand is $500−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=500−2.5W2.5W=500−200W=3002.5=120$

Wage is 120.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20010=20$

Each firm employs 20 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×20)=((100(20)−(20)2)×2)−(120×20)=3,200−2,400=800$

Total profit for each firm is 800.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(800×10)+(120×200)=32,000$

Total income is $32,000. The total income decreased.

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Answer 3

Question

Chapter 18, Problem 5PA

Subpart (a):

To determine

Wage rate.

Subpart (a):

Expert Solution

Explanation of Solution

Daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×2=200−4L$

Wage is $200−4L$ .

Rearrange the wage equation in terms of labor $L=50−0.25W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×20=1,000−5W$

Labor demand is $1,000−5W$ .

Subpart (b):

To determine

Calculate wage rate, profit and income.

Subpart (b):

Expert Solution

Explanation of Solution

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−5W5W=1,000−200W=8005=160$

Wage is 160.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20020=10$

Each firm employs 10 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×10)=((100(10)−(10)2)×2)−(160×10)=1,800−1,600=200$

Total profit for each firm is 200.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(200×20)+(160×200)=36,000$

Total income is $36,000.

Subpart (c):

To determine

Calculate wage rate and income.

Subpart (c):

Expert Solution

Explanation of Solution

New daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×4=400−8L$

Wage is $400−8L$ .

Rearrange the wage equation in terms of labor $L=50−0.125W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.125W)×20=1,000−2.5W$

Labor demand is $1,000−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−2.5W2.5W=1,000−200W=8002.5=320$

Wage is 320.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×4)−(320×10)=((100(10)−(10)2)×4)−(320×10)=3,600−3,200=400$

Total profit for each firm is 400.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(400×20)+(320×200)=72,000$

Total income is $36,000.

Subpart (d):

To determine

Calculate profit and income.

Subpart (d):

Expert Solution

Explanation of Solution

Market demand function after the destruction can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×10=500−2.5W$

Labor demand is $500−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=500−2.5W2.5W=500−200W=3002.5=120$

Wage is 120.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20010=20$

Each firm employs 20 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×20)=((100(20)−(20)2)×2)−(120×20)=3,200−2,400=800$

Total profit for each firm is 800.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(800×10)+(120×200)=32,000$

Total income is $32,000. The total income decreased.

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Answer 4

Question

Chapter 18, Problem 5PA

Subpart (a):

To determine

Wage rate.

Subpart (a):

Expert Solution

Explanation of Solution

Daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×2=200−4L$

Wage is $200−4L$ .

Rearrange the wage equation in terms of labor $L=50−0.25W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×20=1,000−5W$

Labor demand is $1,000−5W$ .

Subpart (b):

To determine

Calculate wage rate, profit and income.

Subpart (b):

Expert Solution

Explanation of Solution

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−5W5W=1,000−200W=8005=160$

Wage is 160.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20020=10$

Each firm employs 10 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×10)=((100(10)−(10)2)×2)−(160×10)=1,800−1,600=200$

Total profit for each firm is 200.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(200×20)+(160×200)=36,000$

Total income is $36,000.

Subpart (c):

To determine

Calculate wage rate and income.

Subpart (c):

Expert Solution

Explanation of Solution

New daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×4=400−8L$

Wage is $400−8L$ .

Rearrange the wage equation in terms of labor $L=50−0.125W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.125W)×20=1,000−2.5W$

Labor demand is $1,000−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−2.5W2.5W=1,000−200W=8002.5=320$

Wage is 320.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×4)−(320×10)=((100(10)−(10)2)×4)−(320×10)=3,600−3,200=400$

Total profit for each firm is 400.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(400×20)+(320×200)=72,000$

Total income is $36,000.

Subpart (d):

To determine

Calculate profit and income.

Subpart (d):

Expert Solution

Explanation of Solution

Market demand function after the destruction can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×10=500−2.5W$

Labor demand is $500−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=500−2.5W2.5W=500−200W=3002.5=120$

Wage is 120.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20010=20$

Each firm employs 20 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×20)=((100(20)−(20)2)×2)−(120×20)=3,200−2,400=800$

Total profit for each firm is 800.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(800×10)+(120×200)=32,000$

Total income is $32,000. The total income decreased.

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Answer 5

Chapter 18, Problem 5PA

Subpart (a):

To determine

Wage rate.

Subpart (a):

Expert Solution

Explanation of Solution

Daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×2=200−4L$

Wage is $200−4L$ .

Rearrange the wage equation in terms of labor $L=50−0.25W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×20=1,000−5W$

Labor demand is $1,000−5W$ .

Subpart (b):

To determine

Calculate wage rate, profit and income.

Subpart (b):

Expert Solution

Explanation of Solution

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−5W5W=1,000−200W=8005=160$

Wage is 160.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20020=10$

Each firm employs 10 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×10)=((100(10)−(10)2)×2)−(160×10)=1,800−1,600=200$

Total profit for each firm is 200.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(200×20)+(160×200)=36,000$

Total income is $36,000.

Subpart (c):

To determine

Calculate wage rate and income.

Subpart (c):

Expert Solution

Explanation of Solution

New daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×4=400−8L$

Wage is $400−8L$ .

Rearrange the wage equation in terms of labor $L=50−0.125W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.125W)×20=1,000−2.5W$

Labor demand is $1,000−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−2.5W2.5W=1,000−200W=8002.5=320$

Wage is 320.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×4)−(320×10)=((100(10)−(10)2)×4)−(320×10)=3,600−3,200=400$

Total profit for each firm is 400.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(400×20)+(320×200)=72,000$

Total income is $36,000.

Subpart (d):

To determine

Calculate profit and income.

Subpart (d):

Expert Solution

Explanation of Solution

Market demand function after the destruction can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×10=500−2.5W$

Labor demand is $500−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=500−2.5W2.5W=500−200W=3002.5=120$

Wage is 120.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20010=20$

Each firm employs 20 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×20)=((100(20)−(20)2)×2)−(120×20)=3,200−2,400=800$

Total profit for each firm is 800.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(800×10)+(120×200)=32,000$

Total income is $32,000. The total income decreased.

Answer 6

Chapter 18, Problem 5PA

Subpart (a):

To determine

Wage rate.

Subpart (a):

Expert Solution

Explanation of Solution

Daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×2=200−4L$

Wage is $200−4L$ .

Rearrange the wage equation in terms of labor $L=50−0.25W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×20=1,000−5W$

Labor demand is $1,000−5W$ .

Answer 7

Chapter 18, Problem 5PA

Subpart (a):

To determine

Wage rate.

Answer 8

Subpart (a):

Expert Solution

Explanation of Solution

Daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×2=200−4L$

Wage is $200−4L$ .

Rearrange the wage equation in terms of labor $L=50−0.25W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×20=1,000−5W$

Labor demand is $1,000−5W$ .

Answer 9

Subpart (a):

Expert Solution

Answer 10

Subpart (a):

Expert Solution

Answer 11

Expert Solution

Answer 12

Subpart (b):

To determine

Calculate wage rate, profit and income.

Subpart (b):

Expert Solution

Explanation of Solution

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−5W5W=1,000−200W=8005=160$

Wage is 160.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20020=10$

Each firm employs 10 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×10)=((100(10)−(10)2)×2)−(160×10)=1,800−1,600=200$

Total profit for each firm is 200.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(200×20)+(160×200)=36,000$

Total income is $36,000.

Answer 13

Subpart (b):

To determine

Calculate wage rate, profit and income.

Answer 14

Subpart (b):

Expert Solution

Explanation of Solution

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−5W5W=1,000−200W=8005=160$

Wage is 160.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20020=10$

Each firm employs 10 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×10)=((100(10)−(10)2)×2)−(160×10)=1,800−1,600=200$

Total profit for each firm is 200.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(200×20)+(160×200)=36,000$

Total income is $36,000.

Answer 15

Subpart (b):

Expert Solution

Answer 16

Subpart (b):

Expert Solution

Answer 17

Expert Solution

Answer 18

Subpart (c):

To determine

Calculate wage rate and income.

Subpart (c):

Expert Solution

Explanation of Solution

New daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×4=400−8L$

Wage is $400−8L$ .

Rearrange the wage equation in terms of labor $L=50−0.125W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.125W)×20=1,000−2.5W$

Labor demand is $1,000−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−2.5W2.5W=1,000−200W=8002.5=320$

Wage is 320.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×4)−(320×10)=((100(10)−(10)2)×4)−(320×10)=3,600−3,200=400$

Total profit for each firm is 400.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(400×20)+(320×200)=72,000$

Total income is $36,000.

Answer 19

Subpart (c):

To determine

Calculate wage rate and income.

Answer 20

Subpart (c):

Expert Solution

Explanation of Solution

New daily wage can be derived as follows.

$Wage=VMP×PriceApple=(100−2L)×4=400−8L$

Wage is $400−8L$ .

Rearrange the wage equation in terms of labor $L=50−0.125W$ . Market demand function can be derived as follows.

$Demand=L×Number of firms=(50−0.125W)×20=1,000−2.5W$

Labor demand is $1,000−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=1,000−2.5W2.5W=1,000−200W=8002.5=320$

Wage is 320.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×4)−(320×10)=((100(10)−(10)2)×4)−(320×10)=3,600−3,200=400$

Total profit for each firm is 400.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(400×20)+(320×200)=72,000$

Total income is $36,000.

Answer 21

Subpart (c):

Expert Solution

Answer 22

Subpart (c):

Expert Solution

Answer 23

Expert Solution

Answer 24

Subpart (d):

To determine

Calculate profit and income.

Subpart (d):

Expert Solution

Explanation of Solution

Market demand function after the destruction can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×10=500−2.5W$

Labor demand is $500−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=500−2.5W2.5W=500−200W=3002.5=120$

Wage is 120.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20010=20$

Each firm employs 20 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×20)=((100(20)−(20)2)×2)−(120×20)=3,200−2,400=800$

Total profit for each firm is 800.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(800×10)+(120×200)=32,000$

Total income is $32,000. The total income decreased.

Answer 25

Subpart (d):

To determine

Calculate profit and income.

Answer 26

Subpart (d):

Expert Solution

Explanation of Solution

Market demand function after the destruction can be derived as follows.

$Demand=L×Number of firms=(50−0.25W)×10=500−2.5W$

Labor demand is $500−2.5W$ .

Wage level with 200 labors can be calculated as follows.

$Supply of labor=Demand for labor200=500−2.5W2.5W=500−200W=3002.5=120$

Wage is 120.

Number of labor demanded by each firm can be calculated as follows.

$Demand for labor=Total laborTotal nuber of firms=20010=20$

Each firm employs 20 labors.

Profit can be calculated as follows.

$Profit=(Q×Price)−(Wage×Labor)=((100L−L2)×2)−(160×20)=((100(20)−(20)2)×2)−(120×20)=3,200−2,400=800$

Total profit for each firm is 800.

Total income can be calculated as follows.

$Total income=(Profit×Number of firm)+(Wage×Number of labor)=(800×10)+(120×200)=32,000$

Total income is $32,000. The total income decreased.

Answer 27

Subpart (d):

Expert Solution

Answer 28

Subpart (d):

Expert Solution

Answer 29

Expert Solution

Answer 30

Ch. 18.1 - Prob. 1QQ Ch. 18.2 - Prob. 2QQ Ch. 18.3 - Prob. 3QQ Ch. 18.4 - Prob. 4QQ Ch. 18 - Prob. 1CQQ Ch. 18 - Prob. 2CQQ Ch. 18 - Prob. 3CQQ Ch. 18 - Prob. 4CQQ Ch. 18 - Prob. 5CQQ Ch. 18 - Prob. 6CQQ

Wage rate.

Wage rate.

Explanation of Solution

Calculate wage rate, profit and income.

Explanation of Solution

Calculate wage rate and income.

Explanation of Solution

Calculate profit and income.

Explanation of Solution

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