Suppose LA.Banana employs workers to harvest bananas. Answer the following questions using the information provided below: Quantity of labour: * 0 labour * 1 labour * 2 labour * 3 labour * 4 labour * 5 labour * 6 labour Units of Output: * 0 banana * 16 banana * 21 banana * 25 banana * 31 banana * 36 banana * 40 banana a.) CALCULATE the marginal product of labor, the value of the marginal product of labor, and the marginal profit ,suppose a fully competitive company, LA”Banana, where wages are fixed at $800 and each banana (output) sells for $20. EXPLAIN how many labors the company should and should not demand based on your answer. b. ) Describe and GIVE SOME EXPLANATIONS about 2 FACTORS that would cause most companies’ labor demand to move, as well as HOW THIS WOULD INFLUENCE equilibrium wages and the value of labor’s marginal product.

/in /by

Suppose LA.Banana employs workers to harvest bananas. Answer the
following questions using the information provided below:

Quantity of labour:

* 0 labour
* 1 labour
* 2 labour
* 3 labour
* 4 labour
* 5 labour
* 6 labour

Units of Output:

* 0 banana
* 16 banana
* 21 banana
* 25 banana
* 31 banana
* 36 banana
* 40 banana

a.) CALCULATE the marginal product of labor, the value of the marginal
product of labor, and the marginal profit ,suppose a fully competitive
company, LA”Banana, where wages are fixed at $800 and each banana
(output) sells for $20. EXPLAIN how many labors the company should and
should not demand based on your answer.

b. ) Describe and GIVE SOME EXPLANATIONS about 2 FACTORS that would
cause most companies’ labor demand to move, as well as HOW THIS WOULD
INFLUENCE equilibrium wages and the value of labor’s marginal product.

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