Use the Table to Answer the Following Question

question 23

Multiple Choice

Use the table to answer the following question.

If the market wage rate is $130 per week,how many workers should be employed if the firm wants to maximize profit?

• A)3
• B)4
• C)5
• D)6 or more

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Definitions:

Public Good

A product that is accessible to everyone without restriction and whose consumption by one person does not diminish its availability to others, characterized by its non-excludable and non-rival nature.

Freely Available

Something that can be accessed or obtained without restrictions or payment, typically offered openly to the general public.

Government Regulations

laws and rules established by governmental agencies aimed at controlling the way businesses can operate within a society.

Public Good

A good that is non-excludable and non-rivalrous, meaning individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.