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Here is the production schedule based on labor from a firm making small stuffed animals to sell at its theme parks in California. Hours of
Here is the production schedule based on labor from a firm making small stuffed animals to sell at its theme parks in California. Hours of labor used Total Quantity of Animals Marginal Product of Labor 10 12 1.2 20 30 1.8 30 45 1.5 40 55 1.0 50 60 0.5 Assume the animals sell for $5 each and the workers are hired in a perfectly competitive environment and earn $9 per hour. How many hours will the firm choose to have its workers make animals? O 10 20 30 40 50
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