Leadbelly Co. sells pencils in a perfectly competitive product market and hires workers in a perfectly competitive labor market. Assume that the market wage rate for workers is $150 per day. Leadbelly should follow this rule to hire the profit-maximizing amount of labor: Hire workers up to the point where the is $150 per day. At the profit-maximizing level of output, the marginal product of the last worker hired is 30 boxes of pencils per day. a. The price of a box of pencils is $ .
b. What is the price of a box of pencils?

Based on this model, households earn income whenfirms purchasegoods and services in factor markets. suppose eileen earns $575 per week working as an analyst for a-plus accountants. she uses $10 to buy a box of aspirin at pillmart pharmacy. pillmart pharmacy pays clancy $250 per week to work the cash register. clancy uses $125 to purchase tax services from a-plus accountants. identify whether each of the following events in this scenario occurs in the factor market or the product market. event factor market product market eileen earns $575 per week working for a-plus accountants. eileen spends $10 to buy a box of aspirin. clancy spends $125 to purchase tax services from a-plus accountants. which of the elements of this scenario represent a flow from a firm to a household