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Consider the table above. What is the marginal profit when 2 workers are hired? >Labor Output MP of labor MRP labor Wage Marginal Profit 0
Consider the table above. What is the marginal profit when 2 workers are hired?
| >Labor | Output | MP of labor | MRP labor | Wage | Marginal Profit |
|---|---|---|---|---|---|
| 0 | 0 | NA | NA | NA | NA |
| 1 | 4 | 4 | 40 | 30 | 10 |
| 2 | 10 | 30 | |||
| 3 | 5 | 50 | 30 | ||
| 4 | 3 | 30 | 0 | ||
| 5 | 20 | ||||
| 6 | 21 | 1 | 30 | -20 |
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Thermodynamics for Engineers
Authors: Kenneth A. Kroos, Merle C. Potter
1st edition
1133112862, 978-113311286
