Standard Enterprises produces an output that it sells in a highly competitive market at a price of $100 per unit. Its inputs include two machines (which cost the firm $50 each) and workers, who can be hired on an as-needed basis in a labor market at a cost of $1200 per worker. Based on the following production data.

 

Capital	Labor	Output	MPL	APL	VMPL	Wage
2	0	0
2	1	28
2	2	52
2	3	72
2	4	88
2	5	100
2	6	108

2. Complete the table.
4. Graphically illustrate the VMPL and wage lines.
6. How many workers should the firm employ to maximize its profits (illustrate on your graph)?