The Widget Company Has the Following Production Function If Widgets Sell for $6 Each and the Wage Rate

question 37

Multiple Choice

The Widget Company has the following production function:
$$\begin{array} { c c } \begin{array} { c } \text { Number of } \\\text { Workers }\end{array} & \begin{array} { c } \text { Number of } \\\text { Widgets Produced }\end{array} \\\hline 0 & 0 \\1 & 9 \\2 & 17 \\3 & 24 \\4 & 30 \\5 & 35\end{array}$$
If widgets sell for $6 each and the wage rate is $33,how many workers will the company hire?

• A)0
• B)1
• C)2
• D)4

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Definitions:

Public Corporation

A company whose shares are publicly traded on a stock exchange, making its financial information available to investors, analysts, and the public.

Operated

Pertains to the condition or manner in which equipment, machinery, or systems are managed, manipulated, or controlled.

At A Discount

Refers to buying or selling something below its nominal or face value.