The Table Has the Marginal Products for Workers at Bart's

question 61

Multiple Choice

The table has the marginal products for workers at Bart's Bats, a cricket bat factory.
-Using the above table, if the wage rate for a worker in a cricket bat manufacturing plant is $12 an hour, and the price of a bat is $3, then the firm will hire ________ workers.

• A) 1
• B) 2
• C) 3
• D) 4
• E) 5

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Definitions:

Social Institutions

Structures and mechanisms of social order and cooperation governing the behavior of a set of individuals within a given human community.

Global Economy

The interconnected worldwide economic activities that determine the production, distribution, and consumption of goods and services.

Tax Exemption

A monetary exclusion that reduces the taxable income of an individual or organization, often granted by government policy.

Pretax Income

The total income earned by an individual or corporation before any taxes are deducted.