Multiple Choice
A competitive car wash currently hires 4 workers, who together can wash 80 cars per day. The market price of car washes is $5 per wash, and the price of workers is $60 per day. The car wash should hire a fifth worker if it would increase total production to at least
A) 92 cars per day.
B) 100 cars per day.
C) 104 cars per day.
D) 110 cars per day.
Correct Answer:
Verified
Correct Answer:
Verified
Q74: Jayden runs a company that sells its
Q75: If the demand for workers with doctorate
Q76: The supply curve of truck drivers is
Q77: Other things constant, if the demand for
Q78: The marginal revenue product of a resource
Q80: Which of the following most clearly illustrates
Q81: According to the principle of marginal productivity,
Q82: Physical and human capital investments are<br>A) different
Q83: If the marginal revenue product of the
Q84: The figure below depicts a production function