Ganaderia
Chapter 16 Homework.
1. Marginal Product of Labor Marginal Revenue Product of labor
350$1400300 $1200225 $900
175$700
150 $600
110$440
2. He would hire 4 workers for a $550 minimum wage and 5 for a $600 minimum wage.
3. The demand curve wouldshift to the right
4. A, C, D, E, F
5. The equilibrium wage would fall because the demand for labor would increase, on the other hand the on-the-job training would become overcrowded and healthinsurance shouldn’t be free anymore.
6. He shouldn’t hire that worker because its total income per day will be just $20 ( 40 x $2 -$ 60 = $20
7. The demand for unskilled labor would increase.
8. No,because not every individual work for a single industry.
9. Athletes has been doing a lot of effort and sacrifices to receive that kind of salary and their industry get a lot more revenue thanschools, so I think that teachers should have a fair salary but it is impossible for them to have a salary as high as athletes.
10. It would make fall the wages in the United States and increase in...
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