The table below gives data on output for a firm in the short run.The firm is able to hire labor and its TPP is given.Compute the APP, MPP, and MRP for labor if the price of the good is fixed at $12 per unit. 
Definitions:
Annuity Holders
Individuals or entities that have invested in an annuity contract, which typically provides fixed or variable payments at regular intervals.
Insurance Company
A financial institution that provides various forms of insurance policies to protect individuals or businesses against risks in exchange for premiums.
Modified Duration
A measure of the sensitivity of a bond’s price to changes in interest rates, indicating how much the price will change as interest rates move.
Semiannually
Occurring or payable twice a year.
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