Solved

The Following Table Shows the Number of Bread Loaves That

Question 79

Multiple Choice

The following table shows the number of bread loaves that can be produced per hour at various levels of labor use.The bakery is a perfectly competitive firm.
Table 16-2
 Labor  Total output 15216330440545648749\begin{array} { | c | c | } \hline \text { Labor } & \text { Total output } \\\hline 1 & 5 \\\hline 2 & 16 \\\hline 3 & 30 \\\hline 4 & 40 \\\hline 5 & 45 \\\hline 6 & 48 \\\hline 7 & 49 \\\hline\end{array}
-Refer to Table 16-2.If the price of bread is $4 per loaf and the hourly wage rate is $12 per hour,how many workers will the profit-maximizing bakery hire?


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

Correct Answer:

verifed

Verified

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

Related Questions