Martin's Magical Milk Farm produces cow's milk and sells it to a local store for $2.20 per gallon. Agricultural workers

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Martin S Magical Milk Farm Produces Cow S Milk And Sells It To A Local Store For 2 20 Per Gallon Agricultural Workers 1 (58.72 KiB) Viewed 382 times

Martin's Magical Milk Farm produces cow's milk and sells it to a local store for $2.20 per gallon. Agricultural workers in the area are paid a fixed wage rate of $90 per day. Use this information and the information in the table to answer the questions. Assume that the milk farm is profit maximizing. Workers Quantity of milk per day (gallons) 0 0 1 70 2 130 3 180 4 220 5 240 6 250 What is the marginal product of labor (MPL) for employing a third worker? MPL) = 50 gallons What is the value of the marginal product of labor (VMPL) for employing a sixth worker? VMPLE = $ 22 How many employees should Martin's farm employ? 2.5 employees Incorrect