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Practice Problem 1. The following table reports the marginal product of the first 16 workers a tomato grower could hire, that is, it tells us

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Practice Problem 1. The following table reports the marginal product of the first 16 workers a tomato grower could hire, that is, it tells us how many extra tomatoes each worker could grow. The tomato grower has monthly fixed costs of $50. The monthly wage of each worker is also $50. The tomato grower participates in a perfectly competitive market where there are currently 1000 identical growers. They sell boxes of tomatoes which contain 1500 tomatoes each and currently the market price of these boxes is $200. Worker MP Worker MP 400 500 400 N 500 600 350 700 300 800 275 250 to 800 700 225 100 CO 600

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