The following table provides information about production at Petra-TV Company.

Number of Workers

Units Produced

Marginal Product

Value of Marginal Product

0

0

1

50

2

85

3

115

4

135

5

150

Price per unit equals $300.

a)Find the missing values in the table above. (10 points)

b)How many workers will the Petra-TV Company hire if the going wage for TV production workers is $5,500?Justify your answer.(10 points)

c)What are your expectations if the price of TV increased? (10 points)