a). What is the marginal cost of hiring the 4th worker?
b). If the firm hires 5 workers, what is the total fixed cost?
c). If hiring the 7th worker increases total product by 5 units and the price of each unit is $2, would the firm hire the 7th worker? Why?
d). If hiring the 6th worker increases total product by 7 units and the price of each unit is $2, would the firm hire the 6th worker? Why?
e). If the firm hires 5 workers, and produces 10 units, what is the average cost?
