Mathematics, 08.08.2021 01:50 anhthule1011
The nation of Ectenia has 80 competitive apple orchards, which sell apples at the world price of $2 per apple. Q = 80L−L2 & MPL = 80−2L Suppose the world price of apples doubles to $4 per apple. Ectenia has 1,200 workers who supply their labor inelastically. The equilibrium wage is $ per worker per day. Each orchard hires workers and makes a profit of $ per day. (Note: Assume that wages are the firm's only costs.)
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The nation of Ectenia has 80 competitive apple orchards, which sell apples at the world price of $2...
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