In the following table, columns 1 and 2 make up a portion of the production function of a monopolist using a single variable input, labor. Columns 2 and 3 make up the demand function facing the monopolist over this range of output.a. Derive MP, MR, and MRP over this range.b. If the wage rate is $60, how much labor would the manager hire? Why? What if the wage falls to $40?

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(1) (2) (3) Price Labor Quantity 9 50 $21 10 100 20 11 140 19 12 170 18 13 190 17 14 205 16 15 215 15