Question 2 De Weert Consulting Inc. is an economic consulting firm that produces expert reports for business litigation. The firm hires consultants to produce these reports. The table below provides the hourly marginal product associated with each additional consultant that De Weert Consulting Inc. hires. Number of Consultants Marginal Product of Labor 1 1.55 reports per hour 0.45 reports per hour 0.35 reports per hour 0.25 reports per hour 0.15 reports per hour 0.05 reports per hour Port (1): Suppose that the price of an expert report is $200. That is, De Weert Inc. sells completed reports to its clients for $200. If the hourly wage is $70, how many consultants will be employed? A. 1 consultant B. 2 consultants C. 3 consultants D. 4 consultants E. 5 consultants Port (li): Suppose that the price of an expert report is $200. If the hourly wage is $40, how many consultants will be employed? A. 1 consultant B. 2 consultants C. 3 consultants D. 4 consultants E. 5 consultants Port (hi): Suppose that the price of an expert report is $300. If the hourly wage is $70, how many consultants will be employed? A. 1 consultant B. 2 consultants C. 3 consultants D. 4 consultants E. 5 consultants Port (iv): Suppose that the price of an expert report is $300. If the hourly wage is $40, how many consultants will be employed? A. 1 consultant B. 2 consultants C. 3 consultants D. 4 consultants E. 5 consultants Port (v): As the price of the good being produced rises, the demand for labor _. If the wage is unchanged, workers will be hired. A. Decreases; fewer B. Decreases; more C. Increases; fewer D. Increases; more