In the short run, a tool manufacturer has a fixed amount of capital. Labor is a variable input. The cost and output structure that the firm faces is shown in the table below. Assume the product price is $2.

a. Calculate the marginal revenue product and the marginal resource cost, and then fill in the blanks in the labor supply table.

Instructions:Enteryour answers as a whole number.

Units of Labor Total Product Wage Rate Total Labor Marginal Cost Resource (Labor) Cost 10 200 $7 11 218 8 12 234 13 248 10 14 260 11 15 270 12MRC S Wage rate (dollars) We D = MRP 0 Quantity of laborMarginal Marginal Marginal Units of Labor | Total Product Product Revenue Wage Rate Total Labor Resource Product Cost (Labor) Cost 10 200 $7 $70 11 218 18 8 88 12 234 16 9 108 13 248 14 10 130 14 260 12 11 154 15 270 10 12 180