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Calculating number of workers the firm should employ

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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

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

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

Solution provided by:
Lokesh Jain, MSc
Education
  • BEng (Hons) , Birla Institute of Technology and Science, India
  • MSc (Hons) , Birla Institute of Technology and Science, India
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