Business, 12.08.2021 04:30 zaratayyibah

Leadbelly Co. sells pencils in a perfectly competitive product market and hires workers in a perfectly competitive labor market. Assume that the market wage rate for workers is $150 per day. Leadbelly should follow this rule to hire the profit-maximizing amount of labor: Hire workers up to the point where the is $150 per day. At the profit-maximizing level of output, the marginal product of the last worker hired is 30 boxes of pencils per day. a. The price of a box of pencils is $ .
b. What is the price of a box of pencils?

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Leadbelly Co. sells pencils in a perfectly competitive product market and hires workers in a perfect...