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The table below shows the total product for Car Suds, a car wash service. The market for car washes is perfectly competitive and car washes
The table below shows the total product for Car Suds, a car wash service. The market for car washes is perfectly competitive and car washes sell for $5 each. The wage rate paid to workers is $50 per day. Fill in the table. Car Wash data Labor (workers) Cars Washed (cars per day) Marginal Product of Labor VMPL 0 0 1 11 2 23 3 33 4 40 5 45 How many workers will the firm hire to maximize profits? workers
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