Question: For questions 2 9 and 3 0 , consider the information conveyed in the table below: table [ [ Labor Hired, 0 , 1

For questions 29 and 30, consider the information conveyed in the table below:
\table[[Labor Hired,0,1,2,3,4,5,6,7,8],[Output Produced,0,800,1,500,2,100,2,600,3,000,3,300,3,500,3,600]]
Which of the following observations are correct?
A. "The Marginal Product of the 5th unit of labor hired is 600."
B. "This firm's production function appears to exhibit a 'diminishing marginal product' of labor."
C."If the price of this firm's output is $5 per unit, then the 'value of the marginal product' of the 4th unit of labor hired is $100."
D. More than one of the above answers are correct.
Suppose the per unit wage rate of labor is $480 and the price of the firm's output is $2 per unit. To maximize profit, the firm should hire workers.
A.4
B.6
C.7
D.8
 For questions 29 and 30, consider the information conveyed in the

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