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Q.3.2 The firm employs workers for R100 per day. Each unit sells for R30. The firm’s production function is as follows: Labour Output 1 6 2 11 3 15 4 18 5 20 6 21 Q.3.2.1 Re-draw the table above and add two columns one showing the Marginal Physical Product and the other column showing the value of the marginal product of labour MRP) at each input level. Q.3.2.2 Determine how much labour the firm will employ.

Q.3.2 The firm employs workers for R100 per day. Each unit sells for R30. The firm’s production function is as follows: Labour Output 1 6 2 11 3 15 4 18 5 20 6 21 Q.3.2.1 Re-draw the table above and add two columns one showing the Marginal Physical Product and the other column showing the value of the marginal product of labour MRP) at each input level. Q.3.2.2 Determine how much labour the firm will employ.

Microeconomics: Principles & Policy
Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter19: Labor And Entrepreneurship: The Human Inputs
Section: Chapter Questions
Problem 4TY
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Q.3.2 The firm employs workers for R100 per day. Each unit sells for R30. The firm’s production function is as follows:

Labour        Output
1                    6
2                   11
3                   15
4                   18
5                   20
6                   21

Q.3.2.1 Re-draw the table above and add two columns one showing the
Marginal Physical Product and the other column showing the value
of the marginal product of labour MRP) at each input level. 

Q.3.2.2 Determine how much labour the firm will employ. 

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