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A company operates in a perfectly competitive market, selling each unit of output for a price of $40 and paying the market wage of $520 per day for each worker it hires. The following table shows the marginal product of labor.Complete the table by calculating the marginal revenue product of labor (MRP of Labor) at each quantity of workers.Labor Marginal Product of Labor Marginal Revenue Product of Labor(Number of workers) (Units) ($ per day)0 1 15 2 14 3 12 4 10 5 6 The profit-maximizing quantity of labor at the market wage is _ workers.
Sagot :
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