production. Let a firm be in a perfectly competitive output market with the following data about Quantity of Workers 10 11 12 13 14 15 16 17 18 19 Marginal Product of Labor 80 75 70 66 59 48 40 36 31 25 a. Given that the industry is perfectly competitive, let us suppose that the price of the output is fixed at 90 pesos. If the labor market is also perfectly competitive and the wage of the worker is fixed at 5000, is it better for the firm to hire more or less than 15 workers? Explain briefly. (1-2 sentences) b. Suppose that the price of the output went up from 90 pesos to 140 pesos. The wage of the worker is still the same at 5000. Based on the table and your new calculation, how many workers should the firm hire? Explain briefly. (1-2 sentences)