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Kaylis [27]
2 years ago
5

The nation of Ectenia has 20 competitive apple orchards, which sell apples at the world price of $2 per apple. The following equ

ations describe the production function and the marginal product of labor in each orchard:
Q= 100L -L^2
MPL 100-2L

where Q s the number of apples produced in a day, L s the number of workers, and MPL is the marginal product of labor. Now, suppose the price of apples is back at $2 per apple, but a hurricane destroys half the orchards so only 10 orchards remain. Recall that each orchard's labor demand as a function of the daily wage is L 50-0.25W.

Required:
What is the market's labor demand?
Business
1 answer:
Phoenix [80]2 years ago
4 0

The  market's labor demand is L=500−2.5W

Since labor demand as a function of the daily wage is L 50-0.25W.

Hence,

The individual labor demand curve is: L=50−0.25W

Now let determine The market labor demand curve

The market's labor demand is :

L=10(50−0.25W)

L=500−2.5W

Inconclusion The market's labor demand is L=500−2.5W

Learn more about market's labor demand here:

brainly.com/question/13540328

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Your career should match your hobbies.
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Therefore, the Option D is correct.

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I believe we do need to be thoughtful about the amounts and kinds of international trade that we engage in.  For example, farming is always a hotly debated issue for international trade, in part because farmers in other countries with a dramatically lower cost of living OR farmers in countries with a favorable currency rate (exchange from their currency to our dollars gives them an advantage) can undercut our farmers here in the US, many of whom are already struggling.

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True

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What method for improving strategic decision making involves having a separate team or individual carefully analyze and critique
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