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Anit [1.1K]
3 years ago
13

Suppose the marginal benefit the owner of a cherry orchard derives from hiring Lauren to pick cherries is $8 per hour. If the wa

ge rate that Lauren earns is $7 per hour, then the orchard owner's surplus from Lauren's labor is ________ per hour.
Business
1 answer:
Sever21 [200]3 years ago
7 0

Answer:

$1 per hour

Explanation:

Data provided in the question

Lauren pick cherries per hour for $8 per hour

And, the wage rate that Lauren earns is $7 per hour

So, the surplus made from Lauren's labor per hour is

= Lauren pick cherries per hour - Wage rate that Lauren earns

= $8 per hour - $7 per hour

= $1 per hour

Simply we deduct the wage rate from the cherries per hour so that the surplus per hour could come

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2 years ago
An ad for Covenant Transport,a national trucking company,is on a page that is wider than the normal pages found in "Trucker's Co
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Answer:

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3 years ago
Andrew is offered a job in Little Rock, where the CPI is 80, and a job in New York, where the CPI is 125. Andrew's job offer in
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Answer:

The job in New York should offer $65,625.

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To represent the same purchasing power salary in New York should be

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4 years ago
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<span>I took this before, it's a firm that is the​ sole, government-designated provider of electricity​, and an example of a public enterprise is the government directly providing sewage service.

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3 years ago
In order to sell more goods​ and/or services, what must a monopoly​ do?
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<span>In order to sell more goods​ and/or services, what must a monopoly​ do? Reduce price and increase output. A monopoly is when a company or a product has control in the industry. The supply or trade of this item or service is limited. For a monopoly to sell even more, they should reduce the price and increase their output because they have no competitors. 

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