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Question
| Quantity of Workers | Total Product | Marginal Marginal Physical Product Revenue Product |
| 0 | 0 | - - |
| 1 | 7 | |
| 2 | 18 | |
| 3 | 30 | |
| 4 | 40 | |
| 5 | 48 |
In the above table, if this is a perfectly competitive firm and the market price of the product is $5 and the marginal factor cost of labor is $60, how many units of labor will the firm hire?
A) 2
B) 3
C) 4
D) 6
Answer
This answer is hidden. It contains 1 characters.
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