9. Complete the following labor supply table for a firm hiring labor competitively: LO4 Units of Wage Total Labor Marginal Resource Labor Rate Cost (Labor) Cost 0 $14 $__________ 1 14 __________

$__________ 2 14 __________ __________ 3 14 __________ __________ 4 14 __________ __________ 5 14 __________ __________ 6 14 __________ __________ Marginal Units of Total Marginal Product Total Revenue Labor Product Product Price Revenue Product 0 0 __________

$2 $__________ 1 17 __________ 2 __________

$__________ 2 31 __________ 2 __________ __________ 3 43 __________ 2 __________ __________ 4 53 __________ 2 __________ __________ 5 60 __________ 2 __________ __________ 6 65 2 __________ __________ 257 Web-Based Questions