What is the market price of the final good? If the firm hires two workers, how...

  

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What is the market price of the final good? If the firm hires two workers, how many units will the two workers together produce? What is the marginal product of the fourth worker? What is the marginal profit of the fourth worker? What is the fourth worker's contribution to total revenue? 0 Marginal Value of Number of Workers Product Output Marginal Product of Marginal Wage Profit of Labour Labour 1 100 2 3 . 4 280 5 $1,000 $500 $500 80 $ 800 $500 60 20 $500 $100 $ 400 $500 $500 What is the market price of the final good? If the firm hires two workers, how many units will the two workers together produce? What is the marginal product of the fourth worker? What is the marginal profit of the fourth worker? What is the fourth worker's contribution to total revenue? 0 Marginal Value of Number of Workers Product Output Marginal Product of Marginal Wage Profit of Labour Labour 1 100 2 3 . 4 280 5 $1,000 $500 $500 80 $ 800 $500 60 20 $500 $100 $ 400 $500 $500

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Answer To determine the market price of the final good we need to calculate the total revenue ge... View the full answer