The table shows the short-run production of a firm that produces and sells its product in a perfectly competitive market for Question 1-2. 1. If the firm sells its product at the market price of $10 per unit, the marginal revenue product of the fourth worker is C. $65 A. $40 B. $50 D. $260 E. $30 2. If the firm sells its product at the market price of $10 per unit, how many workers should the firm employ to maximize profit if the wage rate is $55? B. Two C. Three D. Four A. One E. Five Number of Workers 0 1 2 3 4 5 Quantity of Output 0 8 15 21 26 30

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