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Labor (Number of workers) Output (Units) Marginal Product of Labor (Units) Value of the Marginal Product of Labor (Dollars) Wage (Dollars) Marginal Profit (Dollars) 0
Labor (Number of workers) Output (Units) Marginal Product of Labor (Units) Value of the Marginal Product of Labor (Dollars) Wage (Dollars) Marginal Profit (Dollars) 0 0 - - - - 1 1,000 1,000 5,000 3,000 2,000 2 1,800 800 4,000 3,000 1,000 3 2,300 500 2,500 3,000 -500 4 2,600 300 1,500 3,000 -1,500 Refer to Table 19-4. How many workers should the firm hire? a. 4 b. 1 c. 3 d. 2
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