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The following table shows the total output produced in a factory at various levels of employment of labor. The firm sells each unit of output

  1. The following table shows the total output produced in a factory at various levels of employment of labor. The firm sells each unit of output at $2 and each worker is paid a wage of $128.

Produce a table showing marginal product of labor (MPL), revenue, marginal revenue (MR), marginal revenue product (MRPL), and marginal profit (M). Identify the number of workers needed to achieve maximized profit.

Workers(L)Total output(Q)Marg. Prod.RevenueMarg. RevMRPLMprof11623636048251006112712081229124

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