A firm operating in a purely competitive labor market has the marginal revenue product schedule shown in the table. 
If the wage rate decreases from $19 to $13, by how much will the firm expand employment?
Definitions:
Selling Price
The amount of money charged for a product or service, which may include a markup for profit over the cost of production.
Inventory Item
An article or product that is stored and available for sale or use by a business.
Net Income
A company's remaining earnings once total revenue has been reduced by all expenses, taxes, and costs.
LIFO
An inventory valuation method that assumes the last items placed in inventory are the first sold, standing for Last-In, First-Out.
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