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Attempts Average 3 2. Graphing demand for labor and computing the optimal quantity A company operates in a competitive market, selling each unit of output for a price of $30 and paying the market wage of $285 per day for each worker it hires. In the following table, complete the column for the value of the marginal product of labor (VPL) at each quantity of workers. Labor Number of workers Value of the Marginal Product of Labor (Dollars) Output Marginal Product of Labor (units of output Cunits of output 0 0 16 26 15 2 31 14 45 11 4 56 8 5 64 lllll che folowing dragh use the blue points forces boll to plot the mis border and curve. Then use the orange fine (square symbo) to show the wage rate (Note: If you cannot place toe wape rate at the ever you want move the two end points individually) Hint Remember to plot each point halfway between the two Integers. For example, when the number of workers increases from to the value of the magis product for the first worker should be plotted with a horizontal coordinate of 0.5 the valuehalfway between 0 and 1. Une segments will automatically connect the points
- BRUT sabor demand curve. Then, use the orange line (square symbols) to show the wage rate. (Note: If you cannot place the wage rate at the level you want, move the two end points individually.) Hint: Remember to plot each point halfway between the two integers. For example, when the number of workers increases from 0 to 1, the value of the marginal product for the first worker should be plotted with a horizontal coordinate of 0.5, value halfway between 0 and 1. Line segments will automatically connect the points. 500 450 400 Demand 350 0. 300 Market Wiige Rate WAGE Dollars per work) 250 110 50 . LABOR Number of one The profit maximizing quantity of labor at the market we Grade It Now Save & Continue De who