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
-Refer to Table 12-7.If the market wage rate is $5 per day,how many workers should the firm employ if it wants to maximize profits?
A) three
B) four
C) five
D) six
Correct Answer:
Verified
Correct Answer:
Verified
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