Multiple Choice
When a competitive firm hired nine workers, its profits were $100. When it hired 10 workers, its output was went from 9 to 11 units. Each unit of output sold for $10 while the wage of each worker was $12. What is the firm's new profit level?
A) $20
B) $8
C) $108
D) $12
Correct Answer:
Verified
Correct Answer:
Verified
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