The nation of ectenia has 40 competitive apple orchards, which sell apples at the world price of $2 per apple. the following equations describe the production function and the marginal product of labor in each orchard: q = 120l−l2, mpl = 120−2l where q is the number of apples produced in a day, l is the number of workers, and mpl is the marginal product of labor. what is each orchard’s labor demand as a function of the daily wage w?

(a) l=60−0.25w
(b) l=2,400−10w
(c) l=120−2w
(d) l=60−0.5w

Which type of market are you in if your company, along with three other companies, controls 95 percent of the total music industry?

Alandlord rented an art studio to an artist. under the terms of the signed, written, two-year lease, the artist agreed to pay the landlord $1,000 per month and to assume responsibility for all necessary repairs. after the first year of the lease, the artist assigned the balance of his lease to a sculptor. the landlord approved the sculptor as a tenant and accepted two rent payments from her, and then the landlord sold the building to an investor. the sculptor had made two payments to the investor when an electrical fire broke out in the studio, injuring the sculptor. the fire was caused by faulty wiring. the landlord was aware that there was a dangerous wiring problem when he leased the property to the artist. but when the landlord discovered how costly repairs would be, he decided it would be more profitable to sell the property than to repair it. the problem was not easily discoverable by anyone other than an expert electrician, and the landlord did not tell the artist, the sculptor, or the investor about the problem. the sculptor sues to recover damages for her injuries. from whom can the sculptor recover?

Norton manufacturing expects to produce 2,900 units in january and 3,600 units in february. norton budgets $20 per unit for direct materials. indirect materials are insignificant and not considered for budgeting purposes. the balance in the raw materials inventory account (all direct materials) on january 1 is $38,650. norton desires the ending balance in raw materials inventory to be 10% of the next month's direct materials needed for production. desired ending balance for february is $51,100. what is the cost of budgeted purchases of direct materials needed for january? $58,000 $65,200 $26,550 $25,150