Numbers 11 and 12 please. 11. Chapter ns2im12r, Section.13, Problem 027 uppe Wod

Question

Numbers 11 and 12 please.

11. Chapter ns2im12r, Section.13, Problem 027 uppe WodyClhuck's bs o r s fr bosn drdlogment,.Gicn thcon .005 ofxed capinl,te produrti fimstion issuppse Woody Clusk'ss on of may fims cleaing land and tat h market pr r aed lot is S5000. (Note MPL =-) The marginal Revenue Product of labor is a.constant at 25 25 25 L Od. constant at $5000 12. Chapter ns2im12r, Section .13, Problem 028 itl,u Woody Clu's s ne of mier ear appoe WodyCus b e e r lot is $5000. (Note MP,--) How many workers will Woody Chuck hire at w=5? Oa. 16 b. 25 c4 005 d 1

Explanation / Answer

q = 0.1(L)0.5

MPL = 0.005/(L)0.5

P = 5000

MRPL = 5000[0.005/(L)0.5 ]

= 25/(L)0.5   

b is correct

2)

w = 5

MRPL = W

25/(L)0.5 = 5

25/5 = (L)0.5

5 = (L)0.5

L = 25

Firm will hire 25 labour

b is correct

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