2. Assume work is the only input of a perfectly competitive firm. The production function of the firm is as follows: (* Use only whole numbers in your answers) A. Calculate the marginal product of each additional employee

B. Each unit of product sells for $ 10. Calculate the marginal value of each employee's product

C. Complete the demand itinerary showing the number of employees hired for wages considering that the unit price is $ 10 and the price is $ 12.

Employees	Units produced	Marginal product	Marginal product value
0	0	0	0
1	11
2	19
3	25
4	28
5	29
6	30
7	31

Salary	Demand at $10	Demand at $12
$8
20
35
50
65
75
100

Answer rating: 100% (QA)

A Marginal Product of Each Additional Employee Employees Units Produced Marginal ... View the full answer