Table for Individual Question Feedback Points Earned 3030 Correct Answers 8 2

Table for individual question feedback points earned

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Table for Individual Question FeedbackPoints Earned:3.0/3.0Correct Answer(s):8.(2 points) When comparing Scenario A to Scenario B, the firm now hires _______ workers.A) moreB) fewerTable for Individual Question FeedbackPoints Earned:2.0/2.0
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Correct Answer(s):A9.(2 points) When comparing Scenario A to Scenario B, the firm now produces _____ output.10.(2 points) When comparing Scenario A to Scenario B, the firm now earns _______ profit.Table for Individual Question FeedbackPoints Earned:2.0/2.0Correct Answer(s):A11.SCENARIO C- We return to the original conditions (from scenario A) and now we let wages change. In particular, an increase in labor supply lowers the wagethat the firm needs to pay to $130.For question 11. Fill in Table C- Each box is worth ½ point for a total of 6 points for Table CTABLE C- The wage has changed to $130 but the price of output (Q) is back at its original valueof $20.LQMPLMRPMarginal ProfitTotal Profit00----------------------0188$160$$22012$240$$3288$160$$4357$140$$
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5416$120$$6454$80$$Table for Individual Question FeedbackPoints Earned:6.0/6.0Correct Answer(s):Box 1: 30;Box 2: 30;Box 3: 110;Box 4: 140;Box 5: 30;Box 6: 170;Box 7: 10;Box 8: 180;Box 9: -10;Box 10: 170;Box 11: -50;Box 12: 12012.Use Scenario C/Table C to answer the questions 12 – 14 below.(3 points) The profit maximizing output is .Table for Individual Question FeedbackPoints Earned:3.0/3.0Correct Answer(s):3513.(3 points) The profit maximizing level of labor input is workers.Table for Individual Question FeedbackPoints Earned:3.0/3.0Correct Answer(s):414.(3 points) The maximum profit for this firm is .Table for Individual Question FeedbackPoints Earned:3.0/3.0Correct Answer(s):180
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15.(2 points) Using Scenario C/Table C, go to Graph 1. Label the profit maximizing Q and L combination as point C.Table for Individual Question FeedbackPoints Earned:2.0/2.0Correct Answer(s):16.
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