Table 18-2
Consider the following daily production data for Davis Golf Balls, Inc. Davis Golf Balls, Inc. sells golf balls for 50 cents each and pays the workers a wage of $30 a day.
-Refer to Table 18-2.Assume that Davis Golf Balls,Inc.is a competitive,profit-maximizing firm.If the market price of golf balls increases from 50 cents to 60 cents,how many workers would the firm then hire?
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