Solved

Suppose There Are 100 Identical Firms Producing Package Delivery Services

Question 74

Multiple Choice

Suppose there are 100 identical firms producing package delivery services. One of the firms pays a wage rate of $7 and hires 20 delivery workers. The price the firm charges to deliver a package is $10. We know then that the number of delivery workers in the package delivery industry is


A) 100 workers
B) 200 workers
C) 700 workers
D) 2,000 workers
E) 10,000 workers

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q69: When Maxwell Fruit Drinks increases the number

Q70: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10702/.jpg" alt=" -In Exhibit O-4,

Q71: If MRP = MLC, the firm<br>A) is

Q72: To determine the marginal physical product of

Q73: Will the imposing of a minimum wage

Q75: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10702/.jpg" alt=" -In

Q76: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10702/.jpg" alt=" -In Exhibit O-9,

Q77: Which of the following will decrease the

Q78: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB10702/.jpg" alt=" -In Exhibit O-10,

Q79: When diminishing returns are present,<br>A) total output