# college, Microeconomics

posted by .

(Daddy Warbucks employs workers in his perfectly competitive factory. Mr. Smith employs workers in his monopolistic factory as the only producer of the thing you really want. Given the following information, determine how many workers each firm will employ: The weekly salary is \$206 and the price of each product initially is \$15.00.)
Workers Total Product Marginal Revenue
0 0 ---
1 100 \$14.00
2 225 \$13.00
3 325 \$12.00
4 400 \$10.00
5 450 \$9.00
6 475 \$8.00
7 485 \$7.00
8 490 \$6.00

1. Why does Marginal Revenue Product initially rise, and then fall?

2. Why does a monopolist firm hire fewer workers than a competitive firm?

3.Daddy Warbucks will employ _____ workers. Mr Smith will employ ________ workers.

I need a little assistance, I think I have the correct answers but I need to make sure. Thanks in advanced..

• college, Microeconomics -

Take a shot, what do you think?

Hint: I think Warbucks hires 6, Smith hires 5.

• college, Microeconomics -

Yes those are the answers I got too! I just wanted to see if I was right..
Thanks

## Similar Questions

1. ### Math

A small factory employs 7 experienced and 5 inexperienced workers. The mean monthly wage of these 12 workers is \$700. Given that the mean monthly wage of 5 inexperienced workers is \$602, calculate the mean wage of the 7 experienced …
2. ### Maths

A company employs 4 times as many unskilled workers as it does skilled workers. Unskilled workers earn \$650 a week, and skilled workers earn \$850 a week. The weekly wage bill for these workers is \$17 250. How many skilled and unskilled …
3. ### statistics

the mean height of 25 male workers in a factory is 161 cm and the mean height of 35 female workers in the same factory is 158 cm. find the combined mean of 60 workers in the factory.
4. ### statitstics

A warehouse employs 22 workers on first shift and 14 workers on second shift. Eight workers are chosen at random to be interviewed about the work environment. Find the Probability of choosing: A. All first-shift workers B. All second-shift …
5. ### stats

A clothing company employs 36 workers on first shift and 19 workers on second shift. Five workers are chosen at random to be interviewed about the work environment. Find the probability of choose: a) All first-shift workers b) all …
6. ### History

Imagine you are one of the factory workers at Lowell Mills tasked with creating the headline story for this month’s factory newspaper. Factory Workers—Factory Worker Template 1. First paragraph: Hook your reader into wanting to …
7. ### social studies

which of the following groups benefitted the least from the prosperity of the second industrial revolution?
8. ### U.S History

Imagine you are one of the factory workers at Lowell Mills tasked with creating the headline story for this month’s factory newspaper. Factory Workers—Factory Worker Template 1. First paragraph: Hook your reader into wanting to …
9. ### maths

at present, a firm is manufacturing2000 items.it is estimated that the rate of change of productionp w.r.t. additional number of workers x is given by dp/dx =100-12x.if the firm employs 25 more workers ,then the new level of production …
10. ### History

Which of the following groups benefitted the least from the prosperity of the second industrial revolution?

More Similar Questions