QUESTION 9 A rm faces perfectly elastic demand for its output at a price of $6 per unit of output. The rm, however, faces an upward-sloped labour supply curve of: E = 20w 120 where E is the number of workers hired each hour and w is the hourly wage rate. Thus, the rm faces an upward-sloped marginal cost of labour curve of: MCE = 6 + 0.1E Each hour of labour produces ve units of output. How many workers should the rm hire each hour to maximize prots? What wage will the rm pay? What are the rm's hourly prots