What are the maximum profits this firm can earn?

/in /by

Show more A firms product sells for $4 per unit in a highly competitive market. The firm produces output using capital (which it rents at $25 per hour) and labor (which is paid a wage of $30 per hour under a contract for 20 hours of labor services) Captial (hours) Labor (hours) Output per hour Marginal Product of Capital (MPk) Average Product of Capital (APk) Average Product of Labor (APl) Value of marginal Product of Capital (VMPk) 0 20 0 n/A n/A n/A n/A 1 20 50 50 50.00 2.50 $ 200.00 2 20 150 100 75.00 7.50 $ 400.00 3 20 300 150 100.00 15.00 $ 600.00 4 20 400 100 100.00 20.00 $ 400.00 5 20 450 50 90.00 22.50 $ 200.00 6 20 475 25 79.17 23.75 $ 100.00 7 20 475 0 67.86 23.75 $ 8 20 450 -25 56.25 22.50 $(100.00) 9 20 400 -50 44.44 20.00 $(200.00) 10 20 300 -100 30.00 15.00 $(400.00) 11 20 150 -150 13.64 7.50 $(600.00) What are the maximum profits this firm can earn? What are the maximum profits this firm can earn? What are the maximum profits this firm can earn? What are the maximum profits this firm can earn? What are the maximum profits this firm can earn? Show less