Multiple Choice
The table has the marginal products for workers at Bart's Bats, a cricket bat factory.
-Using the above table, suppose the price of a bat is $3. If the wage rate for a worker in a cricket bat manufacturing plant is $18 an hour, then the firm will hire ________ workers; if the wage rate falls to $12 an hour, then the firm will hire ________.
A) 5; 4
B) 1; 2
C) 3; 3
D) 3; 5
E) 2; 4
Correct Answer:
Verified
Correct Answer:
Verified
Q24: The demand for a factor of production
Q25: If the marginal product of labour increases,
Q26: The supply of labour curve shifts leftward
Q27: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -If the value
Q28: Because leisure time has value to many
Q30: The demand curve for a factor of
Q31: In the market for land, the supply
Q32: The wage paid to labour is<br>A) a
Q33: If a union restricts the supply of
Q34: The aggregate quantity of land supplied<br>A) is