Question: Pam's Pretzels has a production function shown in the following table. It costs Pam's Pretzels $80 per day per worker. Each pretzel sells for $3.

Pam's Pretzels has a production function shown in the following table. It costs Pam's Pretzels $80 per day per worker. Each pretzel sells for $3.
QUANTITY OF LABOR_________________________QUANTITY OF PRETZELS
0....................................................................................................0
1.................................................................................................100
2................................................................................................180
3................................................................................................240
4................................................................................................280
5................................................................................................320
6................................................................................................340
7................................................................................................340
8................................................................................................320
a.) Compute the marginal product and the value of the marginal product that each worker creates.
b.) How many workers should Pam's Pretzels hire?

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