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Use the following information to answer the next 4 questions. In the figure below, Columns ( 1 ) and ( 2 ) provide a portion

Use the following information to answer the next 4 questions.
In the figure below, Columns (1) and (2) provide a portion of a monopolist's production function for a single variable input, labor. Columns (2) and (3) represent the demand function facing the monopolist over this range of output.
(1)(2)(3)
Units of Labor Units of Output Price
3370 $10
44909
55708
66007
76206
Question 26(2 points)
How much does the fifth unit of labor add to the firm's total revenue?
Question 26 options:
$80
$104
$150
$4,560
None of the above.
Question 27(2 points)
If the monopolist faces a wage rate of $300, how many units of labor will the firm employ?
Question 27 options:
3 units of labor
4 units of labor
5 units of labor
6 units of labor
7 units of labor
Question 28(2 points)
Suppose that the government provides an across-the-board tax refund for all consumers. How will this change affect the price and output decisions for this firm?
Question 28 options:
Price will increase, and output will increase.
Price will increase, and output will decrease.
Price will decrease, and output will decrease.
Price will decrease, and output will increase.
Question 29(2 points)
Assume that product prices increase by $2 at each level of output. How many units of labor will the firm now employ at a fixed wage rate of $300.
Question 29 options:
3 units of labor
4 units of labor
5 units of labor
6 units of labor
7 units of labor
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