Question: given the information in the table below, a wage rate of $65 per day, and a product price of $0.50: a. Complete the Marginal Product

given the information in the table below, a wage rate of $65 per day, and a product price of $0.50:

given the information in the table below, a wage rate of $65

a. Complete the Marginal Product and VMPL columns. b. How many workers will this firm hire? c. If product price was expected to decrease, would this firm consider hiring more workers, or laying off workers? Workers Marginal Product Total product VMPL ($) product price ($) per day O 0 0.5 1 200 0.5 2 380 0.5 3 540 0.5 4 680 0.5 5 800 0.5 6 900 0.5 7 980 0.5

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