17. The table below shows the number of cakes that could be baked daily at a local bakery, depending on the number of bakers. Number of Number of MPL VMPĮ Bakers Cakes 1 10 18 3 23 4 27 a. Calculate the marginal product of labor. (Please report your answers in the table above.) Do you observe the law of diminishing marginal returns? b. Suppose each cake sells for $10. Calculate the marginal revenue product of labor. c. Draw the marginal revenue product of labor curve, which is the demand curve for bakers. d. If each baker is paid $80 per day, how many bakers will the bakery owner hire, given that the goal is to maximize profits? How many cakes will be baked and sold each day?

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