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Answer the practice question (3 +4) below based on the table: # of Workers Total Product Marginal Marginal product Revenue Product 0 0 0 5

Answer the practice question (3 +4) below based on the table:

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# of Workers Total Product Marginal Marginal product Revenue Product 0 0 0 5 5 25 13 8 40 18 5 25 21 3 15 5 20 -1 -5 3. Assume perfectly competitive product and labor markets. If the price of the product is $5 and the wage is $20, how many workers should be hired? 3 4. How much is the profit or loss

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