The question is based on the following information for a firm under conditions of perfect competition:

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Number of workers       MP of L        Product's Price            the value of MP of L

            (1)                        (2)                            (3)                         (4) = (2) (3)

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            14                        16

            13                        14               

            12                        10

            11                          9

            10                          8

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If the price of the product is $10 per unit and the firm must pay $140 per worker employed, how many workers should the firm hire to maximize profits?

 

I invest $35,000 into a mutual fund. The fund earns an 8.9% annual interest rate (compounded annually, ignoring fees). The index charges a 1.85% expense ratio and a 0.8% front-end load fee. How much money will be in the fund in 9 months, based on this information?