The production technology of a firm is given in the table below. L is the number of laborers hired per day. The quantity (Q) is the total product, or the total number of units of output produced per day by the firm. Assume the firm cannot hire a fraction of a worker. Suppose each unit of the product sells for $10 each and each worker is paid $50 per day.

L	Q	MPL	APL	MRPL	TWC	MWC (or ME)
0	0
1	6
2	16
3	29
4	44
5	55
6	60
7	62
8	62
9	60

1. Calculate the marginal product of labor, average product of labor, marginal revenue product of labor, total wage costs, and marginal wage cost (or marginal expense of labor) for this firm.

2. How many workers would you suggest the firm hire? How many units of output would the firm want to sell per day? Assume you want to maximize profits. Explain.

3. Sketch or graph the companys demand and supply for labor. Indicate the wage paid and number of workers hired.

4. Suppose a recession hits the nation. The product price falls to $9 per unit. If each worker is paid $50 per day, how many workers would you suggest the firm hire? How many units of output would the firm want to sell per day? Assume you want to maximize profits. Explain. Show all necessary work. You may add relevant columns to your table.

5. If anything changed on the graph in part c, add it to your graph and clearly label any new curves and outcomes.