The Theory of Distribution a) Supposed that this firm is perfectly competitive firm and sell its output at the price of RM5. i) Complete the above table. (2 marks) ii) Assume that the wage rate is RM200 per worker, how many workers should the firm hire at the equilibrium? (1 mark) iii) Assume that the price increases to RM10 and the wage rate is fixed at RM200 per worker, how many workers should the firm hire at the equilibrium? (2 marks) 3) Below is the information of Arissa Son. Bhd which operates in a perfect competitive labor market. Labour Total Product Marginal Total Revenue Marginal (units) (Unit per day) Product of Revenue Labour (MPL) Product of Labour (MRPL) 0 0 1 10 20 20 2 19 9 18 13 27 54 16 4 34 40 6 12 45 90 a) Complete the table above. (4 marks) b) State the law that influences the short run production. (1 mark) c) At what price will each product be sold? (1 mark) d) If the wage rate is RM14, how many workers will the firm hire to maximize the profit? (1 mark) e) Sketch a diagram to show the equilibrium of this firm. (3 marks) a