I need help with this section. I am not sure how to complete the table and I don't fully understand VMRP

b. Explain, in your own words, why VMRP declines as more labor is added. Shouldn't it increase as more labor is added to production process? (5.5 points)

c. Approximate the number of workers firm A will demand per week if the wage rate (Marginal Factor Cost: MFC) is set at $400 per week, per worker? (3 points)

d. In terms of the income or substitution effect regarding supply of labor, explain how a rise in one's wage rate can induce a worker to work fewer hours, instead of hours.

(3 points)

5: a. Use the data in table below for firm A and fill in all the blanks. (7.5 points) (2) (3) (4) (5) (6) (1) Units Total Price of Marginal $ Total $ Value of of Quantity of the Product of Revenue Marginal labor Output product labor (MPL) (TR) Revenue Product (VMRP) $30 N/A N/A 40 $30 2 72 $30 3 92 $30 4 102 $30 5 107 $30