Figure 18-1 on the Graph, L Represents the Quantity of Labor and Labor

question 279

Multiple Choice

Figure 18-1
On the graph, L represents the quantity of labor and Q represents the quantity of output per week.
-Refer to Figure 18-1. Suppose the firm sells its output for $12 per unit, and it pays each of its workers $700 per week. How many workers will the firm hire to maximize its profit?

• A)2
• B)3
• C)4

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Definitions:

\(n !\)

Represents the factorial of n, the product of all positive integers less than or equal to n.

\(6 i + 2\)

A complex number consisting of a real part, 2, and an imaginary part, \(6i\), where \(i\) is the imaginary unit.

\(\sum _ { i = 0 } ^ { 5 }\)

A summation notation representing the addition of a sequence of numbers, from the index i equals 0 to i equals 5.

\(n ^ { 2 }\)

Represents the square of a number n, calculated as n multiplied by itself.