3. Use the data in the table about Homer's Donuts to answer the questions below:

Number of workers

Total Output per hour

Total Revenue

Value of the marginal product of labor

0

0

1

40

2

70

3

90

4

100

5

105

6

107

7

105

a.Complete the table assuming a price of $1.00.

b.Assuming the price of donuts is $1.00, and the market wage is $8 an hour, what is the maximum number of workers Homer will hire?

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c.If the price of donuts rises to $2.00 and wages stay the same, how many workers will Homer's Donuts hire?

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d.If the price of donuts is $1.00 and wages rise to $15 an hour, what is the maximum number of workers Homer will hire?

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