The table below shows levels of employment (Labor), the marg…

The table below shows levels of employment (Labor), the marginal product at each of those levels, and the price at which the firm can sell output in a perfectly competitive market.  Value of the marginal product of labor Labor Marginal Product of Labor Price of the Product Value of the Marginal Product 1 7 $3 2 6 $3 3 5 $3 4 4 $3 5 3 $3 Complete the table finding the Value of the Marginal Product (show your work!). If the wage rate is $15, what is the firm’s profit maximizing level of employment? Justify your answer!