economics help?

[hehe]

The following table shows the number of pizzas that can be produced by a large pizza parlor employing various numbers of pizza chefs.
Number of chefs...Number of pizzas per day
1_____________40
2_____________64
3_____________82
4_____________92
5_____________100
6_____________92
a. Find the marginal physical product schedule of the pizza chefs.
b. Assuming a price of $9 per pizza, find the marginal revenue product schedule.
c. If chefs are paid $100 per day, how many chefs will this pizza parlor employ? How would your answer change if chefs’ wages rose to $125 per day?
d. Suppose the price of pizza increases from $9 to $12. What is the marginal revenue product schedule for pizzas at this price? How many chefs will be employed by the pizza parlor if the wage is $100 per day? How about if it’s $125 per day?
help me check my answers
i get 40,24,18,10, 8,-8 for a
360,216,162,90,72,90 for b
and have no idea how to do c and d

[agent177]

Your answers to a and b are correct, except for the last part of b (the answer is -72 rather than 90)

c) The firm wants to maximise profits - so we need to calculate profits for each chef hired:
1. 9x40 - 100 = 260
2. 9x64 - 200 = 376
3. 9x82 - 300 = 438
4. 9x92 - 400 = 428
5. 9x100 - 500 = 400
6. 9x92 - 600 = 228
So the parlor will hire 3 chefs.
(and do something similiar for $125)

d) Same as above.

Hope that helps.

[Joanie Pony]

I am sorry to long in there