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Question 6 of 11
Martin's Magical Milk Farm produces cow's milk and sells it to a local store for $2.20 per gallon. Agricultural workers in the area are paid a fixed wage rate of $75 per day. Use this information and the information in the table to answer the questions. Assume that the milk farm is profit maximizing.
\table[[Workers,Quantity of milk per day (gallons)],[0,0],[1,50],[2,95],[3,125],[4,145],[5,155],[6,]]
a. What is the marginal product of labour (MPL) when employing a third worker?
MPL3=
gallons
b. What is the value of the marginal product of labour
(VMPL) when employing a sixth worker?
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