Business, 24.07.2019 12:00 karlamiddleschool

Consider live happley fields, a small player in the strawberry business whose production has no individual effect on wages and prices. live happley's production schedule for strawberries is given in the following table: laboroutput(number of workers)(pounds of strawberries)00110219327434540suppo se that the market wage for strawberry pickers is $118 per worker per day, and the price of strawberries is $16 per pound. on the following graph, use the blue points (circle symbol) to plot live happley’s labor demand curve when the output price is $16 per pound. note: remember to plot each point between the two integers. for example, when the number of workers increases from 0 to 1, the value of the marginal product of for the first worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. line segments will automatically connect the points. demand p = $16demand p = $1201234520018016014012010080604020 0wage (dollars per worker)labor (number of workers)at the given wage and price level, live happley should hirethree workers .suppose that the price of strawberries decreases to $12 per pound, but the wage rate remains at $118.on the previous graph, use the purple points (diamond symbol) to plot live happley's labor demand curve when the output price is $12 per pound. now live happley should hire when the output price is $12 per pound. assuming that all strawberry-producing firms have similar production schedules, a decrease in the price of strawberries will cause the strawberry pickers to .suppose that wages decrease to $100 due to a decreased demand for workers in this market. assuming that the price of strawberries remains at $12 per pound, live happley will now hire .

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Consider live happley fields, a small player in the strawberry business whose production has no indi...

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