17 Jul A manager of a firm with market power faces the marginal revenue product and average revenue product curves shown below.
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2 Quiz i Help Save & Exit A manager of a firm with market power faces the marginal revenue product and average revenue product curves shown below. The firm incurs weekly fixed costs of $1,800. The firm employs a single variable input, labor, which costs $600 per worker each week. 1,400 1.200 1,000 MRP and ARP (dollars) 800 600 ARP 400 200 MRP 0 2 6 8 10 12 14 16 18 20 Labor (workers per week) Given the information in the graph, in order to maximize profit, the manager should hire workers per week.
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