Essay
(Table: Framing Shop Employment and Production) Shaheer runs a framing shop that makes custom picture frames for his customers.The table Framing Shop Employment and Production shows the daily production function for his framing shop.He can hire a worker at a daily competitive wage of $70, and he sells a custom frame at a competitive price of $10.a) How many workers should Shaheer hire to maximize his profit?
b) Suppose that Shaheer is able to employ more sophisticated tools, which allow his workers to be twice as productive.How many workers will he employ?
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