The Following Question Are Based on the Following Information for a Firm

question 73

Multiple Choice

The following question are based on the following information for a firm under conditions of perfect competition:

-If the price of the product is $5 per unit and the firm must pay $40 per worker employed,how many workers should the firm hire to maximize profits?

• A) 10
• B) 11
• C) 12
• D) 13
• E) 14

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Definitions:

Resistant

The quality of being opposed to or defending against something, such as change, disease, or certain materials and substances.

Ideas

Mental concepts or thoughts that represent a person's understanding or imagination, which can be the basis for creativity, problem-solving, and innovation.

Constructive

Describes feedback or criticism that is intended to be helpful and aimed at improving or building upon something.

Teamwork

The collaborative effort of a group to achieve a common goal or to complete a task in the most effective and efficient way.