Using the table in Problem 1, how many workers will the farmer hire if the equilibrium wage
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Using the table in Problem 1, how many workers will the farmer hire if the equilibrium wage rate is $550 per week? $650 per week?
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Quantity of labor 0 1 2 34 5 6 7 Total output 250 600 900 1,125 1,300 1,450 1,560 Marginal product of labor Marginal revenue product of labor
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