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Calculating number of workers the firm should employ

Use the following data for a perfectly competitive firm and the profit-maximizing input-combination rule to identify how many workers the firm will employ to maximize profits.

Number of Workers (L) MRPL MRCL
1 $200 $30
2 150 30
3 125 30
4 100 30
5 75 30
6 50 30
7 30 30
8 10 30

Solution Preview

Number of Workers (L) MRPL MRCL
1 $200 $30
2 150 30
3 ...

Solution Summary

Solution depicts the steps to number of workers the firm should employ in the given case.

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