The price and wage structure that a firm faces is depicted in the following table.

The firm finds that the price of its product changes with the rate of output. In addition, the wage it pays its workers varies with the amount of labor it employs. This firm maximizes profits. How many units of labor will it hire? What wage will it pay?

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Labor hysical Hourly Wage Product Rate ( Price ($) Product 100 10X 116 121 124 125 Supplied 10 3.11 3.00 2.95 2.92 2.90 2.89 5 7 12 13 14 15 3 10