ECON 201 12th Assignment due Monday November 14, 2022 1. (10 points) Use the table below to answer the questions. Hours Output Worked (Q) APP MPP (L) 0 0 1 12 12 12 28 14 16 3 45 15 17 60 15 15 70 14 10 6 78 13 8 7 84 12 6 8 88 11 4 9 90 10 2 10 90 9 0 APP is the average physical product of labor = Output per hours worked = Q/L MPP is the marginal physical product of labor = DQ / DL a. (2 points) At what level of hours worked do diminishing marginal returns begin? b. (2 points) Find the level of hours worked where unit labor costs are minimized. c. (2 points) If the price of output is constant at $3 per unit and the hourly compensation for a worker is $30 per hour, find the number of hours worked that a profit-maximizing firm will hire a worker to work. d. (4 points) Suppose the price of the product increases to $4 and the hourly compensation increases to $32 per hour, find the number of hours worked that a profit-maximizing firm will hire a worker to work