Use the table below to answer the following questions.
Table 17.2.3
-Emperor Spring Rolls produces spring rolls.The market for spring rolls is perfectly competitive,and the price of a spring roll is $3.50.The labour market is competitive,and the wage rate is $28 a day.Table 17.2.3 shows the workers' total product schedule.To maximize its profit,Emperor produces ________ spring rolls a day.
Definitions:
Price Elastic
Describing a situation where the demand for a product is sensitive to price changes, meaning a relatively small change in price leads to a large change in the quantity demanded.
Supply Curve
A graph that details the interaction between the price level of a commodity and the quantity of it provided.
Per-unit Tax
A tax imposed on each unit of a good or service sold, affecting the supply curve by increasing production costs.
Tax Burden
The total amount of tax levied on an individual, corporation, or other entity, often expressed as a proportion of income or economic output.
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