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didnt understand this........ In this problem. the short run production function is given. In other words, we are able to see the total output that

didnt understand this........

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In this problem. the short run production function is given. In other words, we are able to see the total output that is produced when different amounts of labor inputs are hired. Each output unit produced by this rm is sold at a price of P = $3. Fill out the rest of the table from the given information. Recall that MP = Marginal Product, MRP = Marginal Revenue Product, and TR = Total Revenue. DO NOT ENTER DOLLAR SIGNS, ONLY ENTER NUMBERS Labor Output MP MRP TR Having lled out the above table. we now consider the number of workers that will be hired by the prot-maximizing rm. In the table below, ll in Quantity of Labor demanded column. In other words, we are asking the following: How many workers will the rm hire at each wage rate? Wage Quantity of labor demanded 65 85 100 125 175 250 300

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