Martin's Magical Milk Farm produces cow's milk and sells it to a local store for $2.20 per gallon. Agricultural workers in the area are paid a fixed wage rate of $125 per day. Use this information and the information in the table to answer the questions. Assume that the milk farm is profit maximizing. 0 workers, 0 gallons.
1 worker, 100 gallons.
2 workers, 195 gallons.
3 workers, 275 gallons.
4 workers, 325 gallons.
5 workers, 350 gallons.
6 workers, 370 gallons. Question 1: what is the marginal product of labor (MPL) for employing a third worker? MPL3= ___ gallons. Question 2: what is the value of the marginal product of labor (VMPL) for employing a sixth worker? VMPL6=$___. Question 3: how many employees should Martin's farm employ? ___ employees. Question 4: how many employees should Martin's farm employ if the price he received per gallon of milk rose to $2.50? ___ employees.

1. demand terminology complete the following table by selecting the term that matches each definition. definition quantity demanded demand curve demand schedule law of demand a graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices the amount of a good that buyers are willing and able to purchase at a given price a table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices the claim that, with other things being equal, the quantity demanded of a good falls when the price of that good rises apply your understanding of the previous key terms by completing the following scenario with the appropriate terminology. your coworker becky is really concerned about a project that she has just been assigned. she is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report. if becky's boss is interested in a graphical representation of the relationship between the pric