Business, 05.05.2020 06:33 anasstasiyashpa
Answer the next question(s) based on the following information for Manfred's Shoe Shine Parlor. Units of Labor Total Product Marginal Product Total Revenue 0 0 1 14 14 $42 2 10 3 30 90 4 35 5 39 117 6 126 7 44 2 132 Assume Manfred hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively. If the wage rate is $11, how many workers will Manfred hire to maximize profits?
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