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The Following Table Shows Worker, Quantity of Output, and Output

Question 4

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The following table shows worker, quantity of output, and output price information for a mechanical pencil manufacturer. The cost of materials used in each mechanical pencil $1.50.
a. Complete the following table
b. How many mechanical pencils should the firm produce to maximize profits if the wage rate is $7.50 per hour? Why? The following table shows worker, quantity of output, and output price information for a mechanical pencil manufacturer. The cost of materials used in each mechanical pencil $1.50. a. Complete the following table b. How many mechanical pencils should the firm produce to maximize profits if the wage rate is $7.50 per hour? Why?

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