A Farmer Who Has Fixed Amounts of Land and Capital

question 137

Multiple Choice

A farmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. The farmer's product sells for $3 per unit, and the wage rate is $13 per worker. How many workers should the farmer hire?

• A)$1
• B)$2
• C)$4
• D)$3

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Definitions:

Geographical Distribution

The physical or spatial location and dispersion of people, resources, or phenomena across Earth.

Incarceration Rates

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Police Attitudes

Perspectives, beliefs, and approach towards law enforcement tasks and the community, as held by police officers or law enforcement agencies.

Motivational Theories

Psychological concepts explaining what drives individuals to initiate, direct, and sustain behaviors and actions towards achieving goals.