Consider Live Happley Fields, a small player in the strawberry business whose production has no individual effect on wag

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Consider Live Happley Fields, a small player in the strawberry business whose production has no individual effect on wages and prices. Live Happley’s production schedule for strawberries is given in the following table: Labor Input Total Output (Number of workers) (Pounds of strawberries) 0 0 1 9 2 17 3 24 4 30 5 35 Suppose that the market wage for strawberry pickers is $100 per worker per day, and the price of strawberries is $18 per pound. On the following graph, use the blue points (circle symbol) to plot Live Happley’s labor demand curve when the output price is $18 per pound. Note: Remember to plot each point between the two integers. For example, when the number of workers increases from 0 to 1, the marginal revenue product of the first worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect the points. Demand P = $18 Demand P = $14 0 1 2 3 4 5 200 180 160 140 120 100 80 60 40 20 0 WAGE RATE (Dollars per worker) QUANTITY OF LABOR (Number of workers)
At the given wage and price level, Live Happley should hire_
Suppose that the price of strawberries decreases to $14 per pound, but the wage rate remains at $100. On the previous graph, use the purple points (diamond symbol) to plot Live Happley’s labor demand curve when the output price is $14 per pound. Now Live Happley should hire_ when the output price is $14 per pound.
Assuming that all strawberry-producing firms have similar production schedules, a decrease in the price of strawberries will cause the_ strawberry pickers to_.
Suppose that wages decrease to $90 due to a decreased demand for workers in this market. Assuming that the price of strawberries remains at $14 per pound, Live Happley will now hire_