The output of workers at a factory depends on the number of supervisors employed.The factory sells its good in a competitive product market at a price of P = $5.The daily wage of supervisors is W = $600.Fill in the MPL and MRPL columns in the table below.
$$\begin{array} { | c | c | c | c | }
\hline \text { Supervisors } & \begin{array} { c }
\text { Output (units } \
\text { per day) }
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Product } \
\left( M _ { \mathrm { L } } \right)
\end{array} & \begin{array} { c }
\text { Marginal } \
\text { Revenue Product } \
\left( \mathrm { MRP } _ { \mathrm { L } } \right)
\end{array} \
\hline 0 & 100 & & \
\hline 1 & 500 & & \
\hline 2 & 860 & & \
\hline 3 & 1160 & & \
\hline 4 & 1400 & & \
\hline 5 & 1560 & & \
\hline 6 & 1640 & & \
\hline 7 & 1680 & & \
\hline 8 & 1680 & & \
\hline
\end{array}$$
How many supervisors should the firm employ? Explain why.

Question

The output of workers at a factory depends on the number of supervisors employed.The factory sells its good in a competitive product market at a price of P = $5.The daily wage of supervisors is W = $600.Fill in the MPL and MRPL columns in the table below.
 $$\begin{array} { | c | c | c | c | } 
\hline \text { Supervisors } & \begin{array} { c } 
\text { Output (units } \
\text { per day) }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Product } \
\left( M _ { \mathrm { L } } \right)
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenue Product } \
\left( \mathrm { MRP } _ { \mathrm { L } } \right)
\end{array} \
\hline 0 & 100 & & \
\hline 1 & 500 & & \
\hline 2 & 860 & & \
\hline 3 & 1160 & & \
\hline 4 & 1400 & & \
\hline 5 & 1560 & & \
\hline 6 & 1640 & & \
\hline 7 & 1680 & & \
\hline 8 & 1680 & & \
\hline
\end{array}$$ 
How many supervisors should the firm employ? Explain why.

Quizplus · Accepted Answer

The Answer of The output of workers at a factory depends on the number of supervisors employed.The factory sells its good in a competitive product market at a price of P = $5.The daily wage of supervisors is W = $600.Fill in the MPL and MRPL columns in the table below.
 $$\begin{array} { | c | c | c | c | } 
\hline \text { Supervisors } & \begin{array} { c } 
\text { Output (units } \
\text { per day) }
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Product } \
\left( M _ { \mathrm { L } } \right)
\end{array} & \begin{array} { c } 
\text { Marginal } \
\text { Revenue Product } \
\left( \mathrm { MRP } _ { \mathrm { L } } \right)
\end{array} \
\hline 0 & 100 & & \
\hline 1 & 500 & & \
\hline 2 & 860 & & \
\hline 3 & 1160 & & \
\hline 4 & 1400 & & \
\hline 5 & 1560 & & \
\hline 6 & 1640 & & \
\hline 7 & 1680 & & \
\hline 8 & 1680 & & \
\hline
\end{array}$$ 
How many supervisors should the firm employ? Explain why.

The Output of Workers at a Factory Depends on the Number