Microeconomics

Q4. Assuming that all units of labour cost the same, ll in the blanks in the table. a} At what level of labour is marginal cost at a minimum? b] What is the marginal product of labour when 4 units of labour are used? Part II. Short Answers (Each Question = 10 Marks) 0- 5. The data in the following table are for Max's 'Car Wash 'n' Wax" business that is in perfect competition. The wage is E per period of time. ""9 ---IIIIII- ---IIIIII- m ---IIIIII- 01-2345,?! ill-Ilntltreillbour BBS Indicate on the graph1 how many workers will Max hire? How many workers will Max hire if wage falls to $48 per day