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Question 4 : (9 marks) Fill in the below table, the wage equals AED 300 for each worker. In addition, each unit of output is

Question 4 : (9 marks)

Fill in the below table, the wage equals AED 300 for each worker. In addition, each unit of output is sold at a price of AED 10.

Number Total Marginal Value of Wage Profit Margin of Output Product of Marginal per (PM)PM=VMPL- workers Labor (MPL) | Product of Labor Worker Wage VMPL = P x W MPL 0 0 1 60 300 2 110 300 3 150 300 4 180 300 5 200 300 6 210 300 (0.5x18= 9 marks)

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