Find marginal physical product schedule of the pizza chefs

Reference no: EM131403158

The following table shows the number of pizzas that can be produced by a large pizza parlor employing various numbers of pizza chefs.

a. Find the marginal physical product schedule of the pizza chefs.

b. Assuming a price of $9 per pizza, find the marginal revenue product schedule.

c. If chefs are paid $100 per day, how many chefs will this pizza parlor employ? How would your answer change if chefs' wages rose to $125 per day?

d. Suppose the price of pizza increases from $9 to $12. Show what happens to the derived demand curve for chefs.

Reference no: EM131403158

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