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Question 2 0e Weert Consulting Inc. is an economic consulting firm that produces expert repori: for business litigation. The firm hires consultani: to produce these
Question 2 0e Weert Consulting Inc. is an economic consulting firm that produces expert repori: for business litigation. The firm hires consultani: to produce these reports. The table below proyides the hourly marginal product associated 1.yith each additional consultant that 0e Weert Consulting Inc. hires. N h f . urn er D Margln al Product of labor Consultants Part {E}; Suppose that the price of an expert report is $200. That is, Do II.I'|.I'eert Inc. sells completed repori: to its clients for $2 00. If the hourly wage is 520, how many consultants will be employed? .4. 1 consultant B. 2 consultants C. S consultants 0. 4 consultants E. 5 consultants Port {if}; Suppose that the price of an expert report is $200. If the hourly wage is 540, how many consultants will be employed? .4. 1 consultant 0. 2 consultants C. S consultants 0. 4 consultants E. 5 consultants Part {EFF}; Suppose that the price of an expert report is $300. If the hourly wage is 520, how many consultants will be employed? .4. 1 consultant 0. 2 consultants C. S consultants 0. 4 consultants E. 5 consultants Part fry}: Suppose that the price of an expert report is 5300. If the hourly wage is 540, how many consultants will be employed? .4. 1 consultant 0. 2 consultants C. S consultants 0. 4 consultants E. 5 consultants
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