1. Using the table, how many units of land, labor, and capital would you hire? Units of MRP of Units of MRP of Units of MRP of Land Land Capital Capital Labor Labor 1 $50 1 $110 1 $95 2 44 2 102 2 90 3 37 3 90 3 83 4 27 4 77 4 74 5 15 5 61 5 61 6 2 6 44 6 46 7 -10 7 28 7 33 8 -25 8 13 8 18 Rent = $15 Interest = $44 Wage rate ? $74
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