# homework 3 part 1 - Percentage 100% 1. SCENARIO B: Suppose...

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Percentage 100%1.SCENARIO B:Suppose that due to favorable economic conditions, the price that this firm can sell its productfor rises to \$22.For question 1. Fill in Table B - Each box is worth ½ point for a total of 9 points for Table BTABLE B- The wage is still \$150 and the price of output (Q) is now \$22.L QMPLMRPMarginal ProfitTotal Profit0 0---------------------01 88\$\$\$2 2012\$\$\$3 288\$\$\$4 357\$\$\$5 416\$\$\$6 454\$\$\$Table for Individual Question FeedbackPoints Earned:9.0/9.0Correct Answer(s):Box 1: 176;Box 2: 26;Box 3: 26;Box 4: 264;Box 5: 114;Box 6: 140;Box 7: 176;Box 8: 26;Box 9: 166;Box 10: 154;Box 11: 4;Box 12: 170;1762626264114140176261661544170132-1815288-6290
Box 13: 132;Box 14: -18;Box 15: 152;Box 16: 88;Box 17: -62;Box 18: 902.Use Scenario B/Table B to answer the questions 2 – 4 below.(3 points) The profit maximizing output (Q) is.Table for Individual Question FeedbackPoints Earned:3.0/3.0
3.(3 points) The profit maximizing level of labor (L) input isworkers.Table for Individual Question FeedbackPoints Earned:3.0/3.0Correct Answer(s):44.

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