Consider the following information for a fish farm that has an infinite demand for fish produced at €5 per kg.

a. Fill in all the blanks in the table.

b. Verify that MRP_L for the fish farm can be calculated in two ways: (1) change in TR from adding another worker and (2) MP_L times the price of output.

c. If the fish farm has to hire workers at a rate of €240 per week, how many workers should they hire? Briefly explain why.

d. If weekly wages increase to €290 per worker, how many workers should be hired now? Why?

e. Suppose that an infestation breaks out in the fish farm and reduces output levels by 5 percent. What is the effect of this on MPL and on MRP_L? How many workers can the fish farm hire at €240?

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Number of Workers 0 1 2 4 5 6 7 8 9 10 Amount of Fish Produced per Week (Kg) 0 20 60 100 150 | | | 410 1 MPL 50 60 40 TR MRPL 1,500 2,400 350