Question: Resource Demand Exercise 3 The table below presents the total revenue generated from each worker hired at Mary's Surf Shop. Mary's Surf Shop and Revenues

Resource Demand Exercise 3 The table below presents the total revenue generated from each worker hired at Mary's Surf Shop. Mary's Surf Shop and Revenues Labor Total Revenue Marginal Revenue (workers) (dollars) Product (dollars) Instructions: Enter your answers as a whole number. a. Based on the information provided in the table, complete the "Marginal Revenue Product\" column. b. What is the demand for labor at Mary's Surf Shop? Use the data from the table to plot the demand for labor curve. Instructions: Use the tool provided "D" to plot the line point by point, starting from 1 worker up to 7 workers (plot 7 points). Mary's Demand for Labor MRP (dollars), wage rate $50 Tools $45 $40 D $35 $30 $25 $20 wage rate $15 $10 $5 0 1 2 3 4 5 7 8 9 Quantity (workers) c. What is the demand for labor if the wage rate is $15

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