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Table 18-12
The table displays data for a small, competitive, profit-maximizing firm that produces and sells envelopes. The time frame is one week.
Labor |
Marginal Product of Labor |
Wage |
0 workers |
||
134 boxes of envelopes | $600 | |
1 | ||
106 | $600 | |
2 | ||
92 |
$600 |
|
3 | ||
84 | $600 | |
4 | ||
78 | $600 | |
5 |
Refer to Table 18-12. If the value of the marginal product of the first worker hired is $938, then how many workers does the firm employ?
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