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Economics

Q. Frank Gunter owns an apple orchard. He employs 87 apple pickers also pays them $8 per hour to pick apples which he sells for $1.60 per box. If Frank is maximizing profits, illustrate what is the marginal revenue product of the last worker he hired? Illustrate what is which worker's marginal product?

Q. Give at least 5 reasons why it might be the case which M1 increases while M2 decreases. Please try to come up with real examples: it's not enough to say which savings account decreased. You also have to tell me why also how (i.e. where is the funds in savings account gone?)

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Business Economics, Economics

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