Fill in the missing numbers in the following table. If the wage rate is $25, how many
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Fill in the missing numbers in the following table.
If the wage rate is $25, how many workers should the firm hire?
Transcribed Image Text:
Quantity of Labor (workers) 1 2 3 st 4 5 Total Output 22 45 80 Marginal Product of Labor 22 20 10 Marginal Revenue $2 2 2 2 2 Marginal Revenue Product
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