Quiz Question 2 The figures below give the production schedule and the product demand schedule for a firm, which has to decide how many Not yet SEC answered workers to hire. Workers hired Total Physical Product Price of output 2 Marked out of 3.00 O $10 O Flag question 10 $10 SECT 4 18 $10 5 25 $10 13 14 O UT A W N 30 $10 34 $10 Finish at 37 $10 Time left Question 1. If the wage = $40 for the time period in question, how many workers is (are) hired? 2. If the wage rate declines to $30, how many workers will be hired? 3. What inferences can you draw from your answers in (1) and (2), relating to labour demand in the short-run