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Microeconomics (30 marks) Suppose that labor is the only input used by East West Dentist. The price of a checkup is BDT 200 and the

Microeconomics

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(30 marks) Suppose that labor is the only input used by East West Dentist. The price of a checkup is BDT 200 and the equilibrium wage rate of dentist (labor) is BDT 1000. The table below shows the dentists' total product schedule. Quantity Quantity dentists checkups a) Draw a table to present the marginal product of labor (MPL) for each dentist and the value of the marginal product of labor (VMPL) per dentist. b) How many dentists should be hired to maximize profit and how many checkups can be produced

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