Reading marginal product, marginal revenue product, and marginal profit from a table. Fill in the missing values for this table:
|
Labor
|
Output
|
MP of labor
|
MRP of labor
|
Wage
|
Marginal profit
|
|
0
|
0
|
NA
|
NA
|
NA
|
NA
|
|
1
|
5
|
5
|
50
|
30
|
20
|
|
2
|
12
|
|
|
30
|
|
|
3
|
|
6
|
60
|
30
|
|
|
4
|
|
4
|
|
30
|
10
|
|
5
|
25
|
|
|
|
|
|
6
|
27
|
2
|
|
30
|
-10
|
Note: The Marginal profit figure that you are to calculate shows the change in profit associated with hiring the last worker (the last unit of labor).