Answer:
Explanation:
Alright so the way to do this is to use properties of integrals to make our life easier.
So we have:
So lets break this up into two different integrals that represent the same area.
Lets think about what is going on up there. The integral from four to zero gives us the area under the curve of f(x) from four to zero. If we subtract this from the integral from one to zero (the area under f from one to zero) we are left with the area under f from four to one! Hence:
But since we have these values we can say that:
-3 - 2 = -5
Which means that = -5
So now we can evaluate
Lets first break up our integrand into two integrals
= 
Now we can evaluate this:
We know that = -5
So:
![3(-5)+2[x]](https://tex.z-dn.net/?f=3%28-5%29%2B2%5Bx%5D)
where x is evaluated at 4 to 1 so
-15 + 2(3)
So we are left with -15 + 6 = -9
Answer:
a(I).Q4, (ii). W3.
(b). Q4.
(c). (i) and (ii). Check Explanation
Explanation:
Note: Kindly check the attachment for the graph. The solution to the question is given below;
(a). Using the labels from the graph above, identify each of the following.
(i) The optimal quantity of labor Larry’s Lumber Mill will hire will be at a point in which marginal cost = marginal revenue which is point Q4
(ii). The wage rate Larry’s Lumber Mill will pay is at a point in which the Marginal revenue = marginal cost that is at point W3.
(b). Using the labels from the graph above, the number of workers Larry’s Lumber Mill would hire if the labor market were perfectly competitive is Q4.
(c). (i). Larry’s Lumber Mill’s demand for labor increase which will cause a shift to the right on the demand curve. This is so, because as the demand for housing increases, the demand for lumber will increase too.
(ii). The supply is lesser than the demand which will cause a shift to the left on the supply curve.
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