Suppose That the Total Product of Labor Per Hour) for a Restaurant

question 44

Essay

Suppose that the total product of labor per hour) for a restaurant is given by
TP_L = 77L - 2.5L².
a. Find the MP_L function.
b. How many workers should the restaurant employ if the wage rate is $10.00 per hour, the average price of a meal is $8.00, and the average cost per meal of the food ingredients is $3.00? Why?

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Definitions:

Calcaneus Bone

is the large bone forming the heel of the foot, acting as a foundation for the rear part of the foot and serving as an attachment site for muscles and ligaments.

Patella

The kneecap; a small flat triangular bone located at the front of the knee joint.

Metatarsal

Distal bone of the foot.

Lateral Malleolus

The outer protrusion or bone on the ankle, formed by the lower end of the fibula, important for ankle stability.