Please fill the charts out and answer the questions.

Name: Aicina Grimare Demand for Resources A small manufacturing company has the following relationship between labor and output: Units of Labor Total Product 0 1 0 8 2 18 3 4 5 35 50 60 65 60 6 7 1 If the firm sells into a perfectly competitive market and the equilibrium price is $3 per unit, compute the following: New Marginal Revenue Product Units of Labor Marginal Revenue Product Marginal Product 0 1 7 15 2 3 4 5 6 7 5 -- 2 How many workers will the firm hire is the market wagc rate is $25? 3 How many workers will the firm hire is the market wage rate is $15.00? 4 .. 5 If the equilibrium price per unit of output increases, what would you expect to happen to the number of workers hired? - If the firm selfs in a imperfectly competitive market such that it can sell 10 units at $4.00 each and must decrease its selling price by $0.05 per unit for any unit it wants to sell above 10, what do you think would happen to the number of labor units hired at $15.00 per unit? Name: Aicina Grimare Demand for Resources A small manufacturing company has the following relationship between labor and output: Units of Labor Total Product 0 1 0 8 2 18 3 4 5 35 50 60 65 60 6 7 1 If the firm sells into a perfectly competitive market and the equilibrium price is $3 per unit, compute the following: New Marginal Revenue Product Units of Labor Marginal Revenue Product Marginal Product 0 1 7 15 2 3 4 5 6 7 5 -- 2 How many workers will the firm hire is the market wagc rate is $25? 3 How many workers will the firm hire is the market wage rate is $15.00? 4 .. 5 If the equilibrium price per unit of output increases, what would you expect to happen to the number of workers hired? - If the firm selfs in a imperfectly competitive market such that it can sell 10 units at $4.00 each and must decrease its selling price by $0.05 per unit for any unit it wants to sell above 10, what do you think would happen to the number of labor units hired at $15.00 per unit