Suppose the production information is for a firm operating in a perfectly competitive market environment. In this competitive market the going market price for the product is $0.56. Also suppose that the hourly wage rate is $5 and the hourly cost of leasing the fixed input is $10. The firm is using just one unit of fixed input. The firm will operate for one hour and then close its doors. In this question you are hiring workers to work for your firm for one hour. You can choose how many workers to hire for one hour to work in your business.

1.The total revenue when 4 units of labor is used.

2.What is the additional revenue each time the producer sells one more unit of the product

P L TPP TFC TR MR MPP 0 APP 0 15 0 1 0 0 15 15 2 3 34 51 AFC TVC 10 0 10 0.666667 10 0.294118 10 0.196078 10 0.153846 10 0.135135 10 0.125 10 0.120482 10 0.121951 AVC TC 0 0 5 0.333333 10 0.294118 15 0.294118 20 0.307692 25 0.337838 30 0.375 35 0.421687 40 0.487805 ATC MC 10 0 0 15 1 0.333333 20 0.588235 0.263158 25 0.490196 0.294118 30 0.461538 0.357143 35 0.472973 0.555556 40 0.5 0.833333 45 0.542169 1.666667 50 0.609756 -5 19 17 17 17 14 16.25 9 14.8 6 13.33333 3 11.85714 - 1 10.25 4 65 74 0.56 0.56 0.56 0.56 0.56 0.56 0.56 0.56 0.56 Total Profit 0 0 0.56 -6.6 0.56 -0.96 0.56 3.56 0.56 6.4 0.56 6.44 0.56 4.8 0.56 1.48 0.56 -4.08 8.4 19.04 28.56 36.4 41.44 44.8 46.48 5 6 7 8 80 83 82 45.92