Question: Question 1: Labor Demand The table below represents information on hourly output and revenue for a firm in a perfectly competitive market where the L

Question 1: Labor Demand The table below represents information on hourly output and revenue for a firm in a perfectly competitive market where

the L represents worker. Labor Demand table P Q TR MR MP

Question 1: Labor Demand The table below represents information on hourly output and revenue for a firm in a perfectly competitive market where the L represents worker. Labor Demand table P Q TR MR MP MRP L O 0 12 2 30 120 3 24 4 40 160 168 6 43 172 8 1. Complete the table2. Using the data from the table, if the MRC (wage) is $16 per hour, how many laborers would be employed? Draw the MRC and MRP graph for this question and show the employed point 3. If MRC (wage) were to increase to $26 per hour, how many laborers would be employed

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