Question

Redo Problem #5 using Excel. You should enter formulas in columns E and F to find the TR and MRPL. How many workers should be hired.

	Workers	TP	P	TR=TP(P)	MRPL=Change in TR/Change in L	MRCL=w
	0	0	10			40
	1	12	10			40
	2	22	10			40
	3	30	10			40
	4	36	10			40
	5	40	10			40
	6	42	10			40

Answer 1

Workers	TP	P	TR=TP(P)	MRPL=Change in TR/Change in L	MRCL=w
0	0	10	0		40
1	12	10	120	120	40
2	22	10	220	100	40
3	30	10	300	80	40
4	36	10	360	60	40
5	40	10	400	40	40
6	42	10	420	20	40

Showing formula in excel

Workers	TP	P	TR=TP(P)	MRPL=Change in TR/Change in L	MRCL=w
0	0	10	0		40
1	12	10	=C3*B3	=(D3-D2)/(A3-A2)	40
2	22	10	=C4*B4	=(D4-D3)/(A4-A3)	40
3	30	10	=C5*B5	=(D5-D4)/(A5-A4)	40
4	36	10	=C6*B6	=(D6-D5)/(A6-A5)	40
5	40	10	=C7*B7	=(D7-D6)/(A7-A6)	40
6	42	10	=C8*B8	=(D8-D7)/(A8-A7)	40

MRCL = W at worker no 5 therefore firm will hire 5 workers