Suppose Die Cast Aluminum Co. is a subcontractor for the auto industry and makes specialized auto...

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Suppose Die Cast Aluminum Co. is a subcontractor for the auto industry and makes specialized auto parts. There is a bracket it manufactures that it sells for $1.00. The following table shows the number of brackets that can be produced from a given number of labor hours. Assume that the company cannot hire labor for a fraction of an hour. Hours of Labor 0 Output 0 1 50 2 90 3 120 4 140 5 150 6 7 155 157 The marginal product of labor for the second hour of labor is 40. (Enter your response as an integer.) The value of the marginal product of labor for the second hour of labor is 40. (Round your response to two decimal places.) If the wage paid to workers in Die Cast's plant is $25/hour, it should employ 3 worker(s). (Enter your response as an integer.) If the wage paid to workers in Die Cast's plant is $35/hour, it should employ 2 worker(s). (Enter your response as an integer.) If the wage is $25/hour, but the price of a bracket declines to $0.50, it should employ | worker(s). (Enter your response as an integer.) Suppose Die Cast Aluminum Co. is a subcontractor for the auto industry and makes specialized auto parts. There is a bracket it manufactures that it sells for $1.00. The following table shows the number of brackets that can be produced from a given number of labor hours. Assume that the company cannot hire labor for a fraction of an hour. Hours of Labor 0 Output 0 1 50 2 90 3 120 4 140 5 150 6 7 155 157 The marginal product of labor for the second hour of labor is 40. (Enter your response as an integer.) The value of the marginal product of labor for the second hour of labor is 40. (Round your response to two decimal places.) If the wage paid to workers in Die Cast's plant is $25/hour, it should employ 3 worker(s). (Enter your response as an integer.) If the wage paid to workers in Die Cast's plant is $35/hour, it should employ 2 worker(s). (Enter your response as an integer.) If the wage is $25/hour, but the price of a bracket declines to $0.50, it should employ | worker(s). (Enter your response as an integer.)

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Answer Marginal Product of Labor MPL The marginal product of labor refers to the additional output produced by adding one unit of labor one hour in th... View the full answer