Question: The below table shows the output associated with each quantity of labor, assuming the level of capital is fixed. Number of workers 0 1 2

The below table shows the output associated with each quantity of labor, assuming the level of capital is fixed.

Number of workers 0 1 2 3 4

Output per hour 0 10 18 24 28

Assume the price of a unit of output is $1.50 and the wage is equal to $10. How many workers would the firm hire?

Assume the price of a unit of output is $1.50 and the wage is equal to $20. How many workers would the firm hire?

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