Dream Home Builders, a construction company, wants to make a decision on the quantity of labor to
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Question:
Dream Home Builders, a construction company, wants to make a decision on the quantity of labor to be hired. It has already employed 10 workers. Suppose the wage rate for construction workers is $30 per hour. The value of the marginal product of labor of hiring 11, 12, 13, 14, and 15 workers is $70, $62, $48, $27 and $14 per hour respectively.
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