Scenario: the Decision to Hire Labor Assume That Both the Product

question 103

Multiple Choice

Scenario: The Decision to Hire Labor Assume that both the product market and the labor market are perfectly competitive.The price of this firm's product is $5.The firm's total product with respect to labor is given in the table that follows. (Scenario: The Decision to Hire Labor) Look at the scenario The Decision to Hire Labor.How many workers will this perfectly competitive, profit-maximizing firm choose to hire if the equilibrium wage is $30?

• A)one
• B)two
• C)three
• D)four

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