This will provide insight into the idea of the optimal number of workers and the value of the marginal product of labor. If wages in the restaurant…

. This will provide insight into the idea of the optimal number of workers and the value of the marginal product of labor.

              If wages in the restaurant is $11.00 per hour and the price of a Hamburger is $4.40 and the production function for the workers is:

              Q = 5L – 0.5L2

              a. How many workers should Your Restaurant employ during the lunch hour to maximize profits? 1 Point

                             (note—the value of the marginal product of labor and the marginal revenue product are the same)

                             We maximize profits which are total revenues less total costs:

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