Please solve the following problem. Here are the requirements:

1- For each step please provide a short explanation of the result(s) you display. Solutions without explanations will lose 50% of the credit.

2- The only source needed for doing this assignment is your textbook. You do not need to use reference or bibliography.

3- Please note no hand written paper will be accepted and a grade of zero will be assigned to the paper.

4- I am asking everyone to please submit the paper on time in Canvas and please do not email any paper after the deadline. They will not be accepted.

Jim owns a music school teaching guitar. The school has a small space and thus any additional teacher adds less to total production (MP is diminishing). Each guitar lesson costs $25/hour. Here is Jim’s Production Function:

                                              Labor                             Q (quantity of lessons)
                                                 0                                  0
                                                 1                                 10  
                                                 2                                 17                             
                                                 3                                  23
                                                 4                                  28
                                                 5                                  32
                                                 6                                  35                          
                                                 7                                   37
                                                 8                                   38

The daily wage rate for the teachers are: $75 , $100 , $125 , $150 , $175 , and $200.

A) Find Jim’s labor demand schedule (Marginal Revenue Product) for each of the above wages.

B) If the price for guitar lessons goes up to $35/hour, Jim’s demand for Labor will change. Find his new Labor demand at each of the same wage rates above.

find the cost of your paper

Economic Research-Final Paper

I have my Final Paper, which is Economics Research. I attached several pdf, which has several topics, and you should choose one topic from the given pdfs. I need in….


   GRADED DISCUSSION WEEK 2 Please note that if you edit your initial response (Original Post), you will not get  credit for the Original Post. The discussions are set up….

Power Motive

Using what you have learned from this unit and your own life experiences, explain your interpretation of the statement by Weiss, Tilin, and Morgan (2018), “power motive is often misunderstood….