Cookies sell for $3.00 each and each requires $1.50 in ingredients. (The Black Sheep uses quality chocolate!) Graph the demand for labor as a function of the wage using the data in table 1. What happens to the number of workers hired when wages go up? How many workers will be hired and how many cookies made at a wage of $40.50? How many workers will be hired and how many cookies made if the wage falls to $27?2. Nick could buy a 2nd oven. He estimates that the 2nd oven would raise output for any given number of workers as indicated in table 2 How many workers will be hired and how many cookies produced with two ovens at a wage of $40.50? At a wage of $27? Would your answer change any if there is a limited market for chocolate chip cookies so that Nick would have to lower the price of cookies to sell more?3. Like many retail employers, Nick experiences high turnover among his workers which forces him to devote much time to hiring and training workers. He finds that paying higher wages discourages turnover saving money by making each worker more productive at higher wages. Now draw a hypothetical labor demand curve assuming higher wages are associated with higher productivity.4. Nick hires workers in a competitive labor market where he finds that he can hire women workers more cheaply than men, at a wage of $18 instead of $27. Who will he hire? What will happen to the number of workers hired, and the number of cookies produced? Is this a sustainable equilibrium where the wages paid man and women will remain at the level of $18 and $27? Or do you expect a market adjustment raising the wage for women and lowering the wage for men?

Table 4-4Hourly Wage(dollars) Quantity of Labor Supplied Quantity of Labor Demanded  $7.50 530,000 650,000  8.50 550,000 630,000  9.50 570,000 610,000 10.50 590,000 590,000 11.50 610,000 570,000 12.50 630,000 550,000Table 4-4 shows the demand and supply schedules for the labor market in the city of Pixley. Refer to Table 4-4. If a minimum wage of $12.50 an hour is mandated, what is the quantity of labor supplied?Group of answer choices80,000550,000630,0001,180,000

Use the data in the table below to answer questions 1 through 3.Labor (hours) Output (units)0 010 10020 24030 36040 44050 500If the firm has fixed costs of $2,000 and labor costs are $8 per hour, what is the average total costs at 40 hours of labor (rounded to the nearest penny)?Answer here

The manager of a furniture factory finds that it costs $2400 to manufacture 100 chairs in one day and $4800 to produce 300 chairs in one day.(a) Express the cost C (in dollars) as a function of the number of chairs x produced, assuming that it is linear.C = 0.25d+390 Sketch the graph. (b) What is the slope of the graph?What does it represent?It represents the time (in days) to produce each additional chair.It represents the number of chairs produced.    It represents the cost (in dollars) of operating the factory daily.It represents the cost (in dollars) of producing each additional chair.(c) What is the y-intercept of the graph?What does it represent?It represents the time (in days) to produce each additional chair.It represents the number of chairs produced.    It represents the cost (in dollars) of producing each additional chair.It represents the fixed daily cost (in dollars) of operating the factory. Viewing Saved Work Revert to Last Response17.[–/6 Points]DETAILSSESSCALC2 1.2.014.MY NOTESASK YOUR TEACHERPRACTICE ANOTHERThe monthly cost of driving a car depends on the number of miles driven. Lynn found that in May it cost her $505 to drive 460 mi and in June it cost her $565 to drive 700 mi.(a) Express the monthly cost C as a function of the distance driven d, assuming that a linear relationship gives a suitable model.C(d) = (b) Use part (a) to predict the cost of driving 1100 miles per month.$ (c) Draw the graph of the linear function. What does the slope represent?It represents the fixed cost (amount she pays even if she does not drive).It represents the cost (in dollars) of driving.    It represents the cost (in dollars) per mile.It represents the distance (in miles) traveled.(d) What does the y-intercept represent?It represents the fixed cost (amount she pays even if she does not drive).It represents the distance (in miles) traveled.    It represents the cost (in dollars) of driving.It represents the cost (in dollars) per mile.(e) Why does a linear function give a suitable model in this situation?A linear function is suitable because the monthly cost increases as the number of miles driven decreases.A linear function is suitable because the monthly cost increases even if the miles driven is constant.    A linear function is suitable because the monthly cost is fixed despite the fact that the miles driven may vary.A linear function is suitable because the monthly cost increases as the number of miles driven

SolutionStep 1:We know the following.The surfboard costs $249$249.Adam has $50$50.His job pays $6.50$6.50 per hour.We want to know how many hours Adam needs to work to buy the surfboard.Let x=𝑥= the time expressed in hours.Let y=𝑦= Adam earningsThe equation of this line is: y=6.50x+50𝑦=6.50𝑥+50Step 2: We can solve this problem by making a graph that shows the number of hours spent working on the horizontal axis and Adam’s earnings on the vertical axis.Adam has $50$50 at the beginning. This is the Answer 1 Question 5: (0,50)(0,50).He earns $6.50$6.50 per hour. This is the Answer 2 Question 5 of the line.We can graph this line using the slope-intercept method. We graph the y𝑦−intercept of (0,50)(0,50), and we know that for each unit in the horizontal direction, the line rises by Answer 3 Question 5 units in the vertical direction. Here is the line that describes this situation.

A bakery calculated the profit of producing and selling muffins. The profit equation is below. The bakery must graph the equation.The line is .