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N Y MPN MRPN Marginal Profit Total Profit 0 P = P = P = $10 P = $12 P = $10 P = $12

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N Y MPN MRPN Marginal Profit Total Profit 0 P = P = P = $10 P = $12 P = $10 P = $12 $10 $12 1 20 2 38 3 53 4 66 5 77 6 86 7 93 a) (5 points) How many workers will you hire and what is your maximum profit in nominal terms? In real terms? b) (5 points) Suppose due to the phone ringing off the hook, you decide the raise the price

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