1. Equilibrium price (wage rate) is approximately $42.28.
2. Equilibrium quantity of workers is approximately 6.82.
3. Price of hats is $9.60.

Number of workers	Output (Hats produced)	Marginal Product (mP)	Value of MP (VMP)	Cost per worker
0	0	n/a	n/a	n/a
1	6.82	6.82	288.3496	42.28
2	13.64	6.82	288.3496	42.28
3	20.46	6.82	288.3496	42.28
4	27.28	6.82	288.3496	42.28
5	34.1	6.82	288.3496	42.28
6	40.92	6.82	288.3496	42.28
7	47.74	6.82	288.3496	42.28
8	54.56	6.82	288.3496	42.28
9	61.38	6.82	288.3496	42.28
10	68.2	6.82	288.3496	42.28

(0.5 pt) How many workers will Company ABC hire, assuming the company wants to maximize profits? Ans: ____

1. (5 pts) Fill in the table, rounding all answers to two decimals, showing a 23% increase in productivity

Number of workers	Output	Marginal Product	Value of MP	Cost per worker
0
1
2
3
4
5
6
7
8
9
10

(0.5 pt) Given the increase in productivity, how many workers will Company ABC hire, assuming the company wants to maximize profits? Ans: ____