You can hire up to four workers. Their contribution to output and revenue is shown in the table above. If the wage you have to pay each worker you hire is $9 per hour, how many should you hire? Why wouldn't you hire any more than that

Marginal Value of Product Marginal Labor (L) # per hour Price ($) Product MP/Hr VMP ($) (P X MP) 1 - $2 $10 2 $2 $16 3 $2 $12 4 4 $2 $8