Answered: Days of LaborUnits of Output o days O…

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Economics

Days of LaborUnits of Output o days O units 1 7 13 3 19 4 25 28 29 7 29 2.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section21.5: Production And Costs In The Long Run

Problem 1ST

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Question

Suppose that labor is the only input used by a perfectly competitive firm.The firm's production function is as follows:a.Calculate the marginal product for each additional worker.b.Each unit of output sells for $10.Calculate the marginal product for each additional worker.cCompute the demand for schedule showing the number of workers hired.

Days of LaborUnits of Output
o days
O units
1
7
13
3
19
4
25
28
29
7
29
2.

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how did you get the 6.25 labor units