Marginal Revenue Product Exercise1 (Algo) Stephanie produces earrings. She sells each pair of earrings for $8. The table below shows how many pairs of earrings can be produced. depending on the number of workers Stephanie hires. Fill in the \"Total Revenue" and \"Marginal Revenue Product\" columns using the information given. Assume this is a perfectly competitive market. Instructions: Enter your answers as a whole number. Stephanie's Earring Shop and Revenues Labor Total Product (pairs Marginal Product Price Total Revenue Marginal Revenue (workers) of earrings) (pairs of earrings) {dollars} (dollars) Product. (dollars) ------- -_--_- ------ 25 38 Marginal Revenue Product Exercise 3 (Algo) Henry bakes loaves of bread, which he sells for $4 each. He is considering purchasing additional mixers (capital) for his bakery. Each additional mixer has the productivity described below. Fill in the "Marginal Product," "Total Revenue," and "Marginal Revenue Product" columns. Assume this is a perfectly competitive market. Instructions: Enter your answers as a whole number. Henry's Bakery and Revenues Capital Total Product (loaves Marginal Product Price Total Revenue Marginal Revenue (mixers) of bread) (loaves of bread) (dollars) (dollars) Product (dollars) 0 0 $ 4 24 4 $ N 42 4 3 58 4 73 86 96 103