Explain production schedule for boxes of apples

Reference no: EM13184153

Consider the workers at live happley orchards whose production schedule for boxes of apples is given by the following table:

Labor/Quantity

0/0

1/18

2/34

3/48

4/60

5/70

Live happley is a small player in the apple business and has no individual effect on wages and prices. Suppose that the market wage for apple pickers is $200. If the price of apples is $16 per box, Live Happley should hire? (1,2,3,4,5 workers)

Suppose that the price of apples falls to $12 per box, but the wage rate remains at $200. Now, live happley should hire? (1,2,3,4,5 workers)

Assuming that all the apple-producing firms have a similar production schedule, a decrease in the price of apples will cause the (demand for, supply of) apple pickers to (increase or decrease).

Suppose that wages fall to $170 due to a decreases demand for workers. Assuming that the price of apples remain the same at $12 per box, Live Happley will now hire (1,2,3,4,5 workers)

Reference no: EM13184153

Questions Cloud

Computer crime comes in many different forms : Computer crime comes in many different forms. Organizations are dealing with computer crime by implementing the latest security technologies and they are also using digital forensics as a means for investigating the source of these crimes.

Conduct a work sampling study : Researcher Adams wants to conduct a work sampling study and decides to research how much time is spent at the water coolers and what employees say there.

Compute the volume of gas in the container : The volume of the container is 2 ft 3 .Calculate the volume of gas in the container?

Compare and contrast brittle and ductile deformation : Compare and contrast brittle and ductile deformation. Explain the nature of the stresses involved and the conditions that result in each type of deformation. Include three examples for each.

Explain production schedule for boxes of apples : Suppose that the price of apples falls to $12 per box, but the wage rate remains at $200. Now, live happley should hire? (1,2,3,4,5 workers) Assuming that all the apple-producing firms have a similar production schedule, a decrease in the price o..

What was the ph at the end of the reaction : What was the pH at the end of the reaction? e) What would the final pH be in the absence of any buffer?

Explain analysis with an elaborate instrument : Analysis with an elaborate instrument indicates that substance A contains two elements. Substance B and substance C react to give a new substance D

Impact of accounting for operating leases : Issuance of SI par value common stock at an amount greater than par value and donation of land by a governmental unit to a corporation

What do you owe your present success-what motivates you : To what do you owe your present success? What motivates you? What turns you off? When you take on a project, do you like to attack the project in a group or individually?

User Account

All Pages