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A Firm's Labor Input, Total Output of Labor, and Product

Question 99

Multiple Choice

A firm's labor input, total output of labor, and product price schedules are given in the table. Labor is the only variable input. How many workers will the profit-maximizing firm hire if the wage rate is $8 per day? A) 3 B) 4 C) 6 D) 5 A firm's labor input, total output of labor, and product price schedules are given in the table. Labor is the only variable input. How many workers will the profit-maximizing firm hire if the wage rate is $8 per day?


A) 3
B) 4
C) 6
D) 5

Correct Answer:

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