6. You have been hired to manage a small manufacturing facility, which has cost and production data given in the table below.

Total

Total

Workers     Labor Cost     Output    Revenue
1	$500	100	$700

1000

280

1150

1500

440

1440

				
4	2000	540	1570	
				
5	2500	600	1670	
6	3000	630	1710	
7	3500	640	1730	

a.	What is the marginal product of the second worker?
b.	What is the marginal revenue product of the fourth worker?
c.	What is the marginal cost of the first worker?
d.	Based on your knowledge of marginal analysis, how many workers should you
hire? Explain you answer.
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