Fill in the below table, the wage equals AED 300 for each worker. In addition, each unit of output is sold at a price of AED 10. Number of workersTotal OutputMarginal Product of Labor (MPL)Value of Marginal Product of Labor VMPL = P x MPLWage per Worker WProfit Margin (PM)PM=VMPL-Wage00----160 300 2110 300 3150 300 4180 300 5200 300 6210 300

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Answered: Fill in the below table, the wage…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Fill in the below table, the wage equals AED 300 for each worker. In addition, each unit of output is sold at a price of AED 10.

Number of workers	Total Output	Marginal Product of Labor (MPL)	Value of Marginal Product of Labor VMPL = P x MPL	Wage per Worker W	Profit Margin (PM)PM=VMPL-Wage
0	0	-	-	-	-
1	60			300
2	110			300
3	150			300
4	180			300
5	200			300
6	210			300

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