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Labor is the only input used by a perfectly competitive firm. It hires workers for $50 a day. The firm's production function is as shown in the following Table. (The table will open in a new window.) Each unit of output sells for $10.
a. Complete the table to show the marginal product of labor and the value of the marginal product of labor.
b. How many days of labor should the firm hire? Explain.
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