very and sells its product in a competitive price-taker market. Product Total Output (dollars) Price 15 6 30 6 40 48 54 59 62 6 49. What is the marginal revenue product of the fifth unit of labor? a. $6. c. $54. b. $36. d. $324. 50. If the market wage rate is $30 per day, how many workers should the firm hire if it wants to maximize profits? a. 4. c. 6, b. 5. d. 7. Units of Labor (per day) 1 234567 3 4 6 6 6 6

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