Assume manfred's shoe shine parlor hires labor, its only variable input, under purely competitive conditions. shoe shines are also sold competitively. units of labor total product marginal product total revenue 0 0 1 14 14 $42 2 10 3 30 90 4 35 5 39 117 6 126 7 44 2 132 how many units of output are produced when 2 workers are employed?

24 units are produced when 2 workers are employed.

Explanation:

Consider the given table is

Units of Labor      Total Product       Marginal Product     Total Revenue

        0                             0                              

         1                            14                              14                              $42

         2                                                            10                              

         3                           30                                                               $90

         4                           35

         5                           39                                                               $117

         6                                                                                              $126

         7                            44                             2                               $132

The formula for total product is

We need to find the total product when 2 workers are employed.

From the given table it is clear that total product is 14 when 1 workers are employed and marginal product is 10 when 2 workers are employed.

Therefore, 24 units are produced when 2 workers are employed.

1. c

2. b

3. a

4. c

5. a

6. b

7. c

8. c

9.b

10. d

just took it 100%