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A perfect competitor charges a price of $10. The first worker he would hire would have a marginal physical product of 20, the second 3
A perfect competitor charges a price of $10. The first worker he would hire would have a marginal physical product of 20, the second 3 worker he would hire would have a marginal physical product of 18, the third worker would have a marginal physical product of 16, and the fourth worker would have a marginal physical product of 14. (a) How many workers would he hire if the wage rate were $160? 00-53:41 worker(s) hired How much would his wage bill be? wage bill (b) How many workers would he hire if the wage rate were $140? workers) heed How much would his wage bill come to? wage bill
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