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Use the Information Given in the Table Below to Answer

Question 66

Multiple Choice

Use the information given in the table below to answer the following question(s) . Assume the firm hires labor competitively and sells its product in a competitive price-taker market at a price of $2 per unit.
Table 12-7
Use the information given in the table below to answer the following question(s) . Assume the firm hires labor competitively and sells its product in a competitive price-taker market at a price of $2 per unit. Table 12-7 Refer to Table 12-7. If the market wage rate rose to $7 per day, how many workers should the firm employ if it wants to maximize profits? A) three B) four C) five D) six
Refer to Table 12-7. If the market wage rate rose to $7 per day, how many workers should the firm employ if it wants to maximize profits?


A) three
B) four
C) five
D) six

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