A Firm's Labor Input, Total Output of Labor, and Product

question 21

Multiple Choice

A firm's labor input, total output of labor, and product price schedules are given in the table. Labor is the only variable input. How many workers will the profit-maximizing firm hire if the wage rate is $15 per day?

• A)3
• B)5
• C)6

---

Definitions:

Configure Database

The process of setting up a database to operate in a specific way by adjusting its parameters, structure, and permissions.

On-Call Time

Periods when employees are not at their workplace but are available to work or respond to work-related calls if needed, often compensated differently.

Algebraic Expression

A mathematical phrase that can contain ordinary numbers, variables (like x or y), and operators (like add, subtract, multiply, and divide).

Translating

The process of converting text or speech from one language to another, ensuring the intended meaning is preserved.