please answer

E 2 1 1 3 2 1 1 1 1 1 1 4 1 1 1 1 1 1 1 5 1 1 1 1 1 1 1 6 1 1 7 Number of Output Marginal Total Marginal Workers (Quantity) Product Revenue Revenue Product 0 0 $0 20 20 $40 $40 W N K 50 30 $100 $60 70 20 $140 $40 4 85 15 $170 $30 5 95 10 $190 $20 6 100 5 $200 103 3 $206 $6 104 1 $208 $2 100 -4 $200 S-8 a. Calculate the marginal product of labor. Fully explain why the number of yo-yos produced increases at a decreasing rate as more workers are hired. Identify and explain the three stages of returns (2 pt) b. Calculate the total revenue and marginal revenue product of labor. Explain how a firm decides how many workers to hire. If the price of each yo-yo is $2 and the wage was constant at $25 per day, how many workers should be hired? Assuming that fixed costs are $10, how much profit will they earn (2 pt) c. Assume there is an increase in demand of yo-yos and they are now $3 each. How many workers should be hired? Explain how you got your answer. Assuming that fixed costs are $10, how much profit will they earn (1 pt)