Annetta operates a soft drink stand that sells soft drinks at the County Fair in Googleland. The price of a soft drink is $3.00 each. The number of soft drinks sold varies with the amount of labor hired as follows: 

(a) Fill in the columns for total revenue, marginal product of labor and marginal revenue product. Show your calculations. 

(b) If the wage for an employee is $40 per day, how many employees should Annetta employ? 

(c) If the wage increases to $55 per day, how many employees should Annetta employ now? Explain your answers.

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Total Labor Total Product (Soft drinks per day) Marginal Marginal Units Total Product of Revenue (employees) Revenue Labor Product 0. 25 2. 45 3 63 4 77 88 Total Labor Total Product (Soft drinks per day) Marginal Marginal Units Total Product of Revenue (employees) Revenue Labor Product 0. 25 2. 45 3 63 4 77 88