The Following Question(s)deal with the Gizmo Company, Which Has the Following

question 24

Multiple Choice

The following question(s) deal with The Gizmo Company, which has the following production function: $$\begin{array} { | c | c | } \hline \text { Number of Workers } & \text { Number of Gizmos Produced } \\\hline 0 & 0 \\\hline 1 & 10 \\\hline 2 & 19 \\\hline 3 & 26 \\\hline 4 & 31 \\\hline 5 & 34 \\\hline\end{array}$$
-If the real wage is equal to 8 widgets, and only an integer number of workers can be hired, The Gizmo Company should hire

• A)2 workers.
• B)3 workers.
• C)4 workers.
• D)5 workers.
• E)6 workers.

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Definitions:

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Compact discs used to store music recordings, a physical format for retailing music content.

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Digital Versatile Discs, a type of optical storage media used for storing data, including movies, software, and other information.

Consumption Bundle

A collection of goods and services consumed by an individual or household.

Good X

"Good X" is a term used in economics to represent a hypothetical product or commodity being analyzed or discussed in theory or case studies.