caption: Complete the following labor demand table for a firm that is hiring labor competitively and selling its product in a competitive market. Instructions: Enter your answers as whole numbers. Units of Total Marginal Product Total Labor Product Product Price Revenue Marginal Revenue 0 2 31 43 6 65 2 2 a. How many workers will the firm hire if the market wage rate is $27.95? How many workers will the firm hire if the market wage rate is $19.95? worker(s) b. Show the labor demand curve of this firm graphically. Instructions: Use the tool provided Demand to plot the labor demand curve point by point (plot 6 points total). 35 r Tools Demand 15 10 Quantity of labor demanded
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