Peter's Pans sells cooking pans for $30 each. The company
hires workers in a competitive labor market and pays each worker
$500/week. Based on the table below, find the VMP and determine
the total number of workers Peter's Pans will hire. Explain why.

# of workers # of pans MP VMP
0 0 0 ?
1 20 20 ?
2 39 19 ?
3 57 18 ?
4 74 17 ?
5 90 16 ?
6 105 15 ?

Required:
1. Fill in the VMP for this chart.

2. How many workers will be hired?

3. Why?

Question

03-08-2022
Business

contestada

Peter's Pans sells cooking pans for $30 each. The company
hires workers in a competitive labor market and pays each worker
$500/week. Based on the table below, find the VMP and determine
the total number of workers Peter's Pans will hire. Explain why.

# of workers # of pans MP VMP
0 0 0 ?
1 20 20 ?
2 39 19 ?
3 57 18 ?
4 74 17 ?
5 90 16 ?
6 105 15 ?

Required:
1. Fill in the VMP for this chart.

2. How many workers will be hired?

3. Why?

Respuesta :

Otras preguntas

Equation A: a=5b + 1 Equation B: a= 3b+ 5 Which of the following is a step that can be used to find the solution to the set of equations?

IM ALMOST DONE. I NEED HELP PLEASE!! Find the indicated limit, if it exists. limit of f of x as x approaches 2 where f of x equals x plus 3 when x is less than

△EFG≅△JKL. What is m∠L?

Ana: Mi amigo Juan cubre los temas de actualidad. Hace investigación antes de escribir la historia. A. reportero B. editor C. maquetador D. corrector de t

A. Most Victorian women were restricted to their homes. B. Victorian women were confined to domestic duties. C. Most Victorian women worked hard but were oft

Sometimes a cost must be incurred to obtain an abandonment option. this cost should be incurred if and only if the value of the option exceeds its cost. the val

Verify that the divergence theorem is true for the vector field f on the region e. give the flux. f(x, y, z) = 2xi + xyj + 2xzk, e is the cube bounded by the pl

Which type of exocrine gland accumulates its secretory product in the cytosol of its cells until the cell ruptures and becomes part of the secretory product? ho

The expression on the left side of an equation is shown below. -4(x-2)+5x= If the equation has no solution, which expression can be written in the box on the o

What letter comes next A Z E B I Y O?

ogorwyne ogorwyne · Answer 1 · 2022-08-09T22:37:53+02:00

The value of the VMP are 600, 570, 540, 510, 480, 450. The total workers to be hired are 4 workers because MRL > wage.

How to solve for the VMP

= MP * selling price

20 * 30 = 600
19 * 30 = 570
18 * 30 = 540
17 * 30 = 510
16 * 30 = 480
15 * 30 = 450

This has been computed in the excel file that I have attached to the question.

2. A competitive firm is going to have to hire when the wage is equal to MRPL or MRPL is greater than the wage

based on this the labor of the firm would be at 4 units.

3. Four workers are going to be hired based on the fact that the marginal revenue of the added labor is more than the wage that was paid for the work done.