Answer Happy

Question 1 0.53 pts Solve for and fill in the missing portions of the following table to derive the monopsonist's derived demand curve for labor and answer the following questions: Number of Total Physical Marginal Price Marginal Revenue Product Workers Product Physical Product 246 9,557.10 32.70 32.70 247 32.65 1 248 9,622.35 32.60 32.60 249 9,654.90 1 32.55 250 32.50 1 32.50 251 9,719.85 32.45 1 252 9,752.25 32.40 1 32.40 253 9,784.60 1 32.35 254 9,816.90 32.30 1 32.30 Question: What is the total physical product when the firm hires the 247th worker, and what is the marginal revenue product from hiring the 247th worker? O