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Homework answers / question archive / The table below shows data for the production of Avocados for an individual firm operating in a perfectly competitive market

The table below shows data for the production of Avocados for an individual firm operating in a perfectly competitive market

Economics

The table below shows data for the production of Avocados for an individual firm operating

in a perfectly competitive market. Suppose that the price of Avocados is $3.

Number of workers

Number of Avocados

0

0

10

150

20

270

30

360

40

420

50

450

Given this data, complete the table:

Quantity of

avocados

Marginal Product of Labor

(MPL)

Value of the Marginal

Product of Labor

(VMPL)

0

-

-

10

20

30

40

50

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