How many workers should an apple orchard hire?
The following schedule shows the production schedule at the delicious Apple Orchard for 2006:
WORKERS TOTAL BUSHELS OF APPLES PER DAY
If apples sell for $2 per bushel and workers can be hired in a competitive labor market for $30 dollars per day, how many workers should be hired? What if workers unionized and the wage rose to $50? (Hint: Create marginal product and marginal revenue product columns for the table.) describe your answers clearly.