Number of workers	Wage	Price	Output	Marginal product of Labour (MPL)	VMPL	MP
0	500	200	0
1	500	180	6
2	500	160	11
3	500	140	15
4	500	120	18
5	500	100	20
6	500	80	21

A) Calculate MPL, VMPL, MP when farm hires its first 6 workers

b) If the farm decides to maximize its profit, how many workers will it hire? Explain

c) Why would a profit-maximizing farm choose to operate where MPL is decreasing but not negative?

d) Explain how the farm's production function is related to its MPL, how the farm's MPL is related to the VMPL. and how the farm's VMPL is related to its demand for labour

e) What is monopsony? Explain the traits of monopsony with examples.