Question: Need help working through problem 1. A rm that is hiring labour and capital competitively is selling its product (Q) in a competitive market as

Need help working through problem

1. A rm that is hiring labour and capital competitively is selling its product (Q) in a competitive market as given in the following table. The price of a product Q is $4. Each worker costs $20 and each capital costs $5. LK QMPLMRPL 04 1420 243? 3451 4462 5470 6475 7477 8476 a. Complete the above table. (2 marks) b. How many workers will the rm hire? Explain why? (3 marks) c. Calculate the maximum prot that this rm will earn. (2 marks) d. Unemployment has gone up due to the COVID-l9 pandemic. As a result, the wage rate has fallen from $20 to $8. Recalculate the number of workers this rm will now hire and its maximum prot

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