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You are given the following table by one of your analysts. Provide the profit maximizing point and explain how you would determine how much labor
You are given the following table by one of your analysts. Provide the profit maximizing point and explain how you would determine how much labor you will need to maximize profits. Determining the Profit-Maximizing Point of Labor Use Amount Total Amount of Cost of of Total Marginal Marginal Variable Labor (at Output Revnue Revenue cost Input $300 Per labor) Worker) 0 0 0 0 0 25 769 769 300 300 51 1,569 800 600 300 78 2,399 830 QUAWNFO 900 300 110 3,537 1138 1,200 300 134 4,275 738 1,500 300 173 4,921 646 1,800 300 163 5,383 462 17 2,100 300 160 5,229 -154 2,400 300 LD CO 150 4,614 -615 2,700 300
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