part 1)

A manufacturer wants to know whether to purchase another specialized machine to produce widgets. If the extra machine can eventually produce 500 additional widgets (the MPP), and each additional widget sells at the market for $18 (price of the product or marginal revenue), the MRP of the tractor is $__________. The MRP will be the maximum he is willing to pay for the machine.

Enter your answer as a whole number, ex. - 1500 (no dollar sign)

Your Answer:

part 2)

You are opening a small shop producing widgets. Your cost of labor is $96/day and the price of each widget is $10. Based on these assumptions how many workers should you hire?

# Workers	Output	MPl	MRP
0	0
1	24
2	44
3	60
4	72
5	80
6	84

Question options:

	4
	5
	2
	3