The second table depicts the product market and labor market a digital device manufacturer faces. a. Calculate
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The second table depicts the product market and labor market a digital device manufacturer faces.
a. Calculate the firm’s marginal product, total revenue, and marginal revenue product at each input level above 10 units.
b. The firm competes in a perfectly competitive labor market, and the market wage it faces is $26 per hour. How many workers will the profit-maximizing employer hire?
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