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Martin's Magical Milk Farm produces cow's milk and sells it to a local store for $ per gallon. Agricultural workers in the area are paid a fixed wage rate of $ per day. Use this information and the information in the table to answer the questions. Assume that the milk farm is profit maximizing.
tableWorkersQuantity of milk per day gallons
a What is the marginal product of labour MPL when employing a third worker?
gallons
b What is the value of the marginal product of labour
VMPL when employing a sixth worker?
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