The Table Has the Marginal Products for Workers at Bart's

question 141

Multiple Choice

The table has the marginal products for workers at Bart's Bats, a baseball bat factory.
-Using the above table,if the wage rate for a worker in a baseball bat manufacturing plant is $18 an hour,and the price of a bat is $3,then the firm will hire ________ workers.

• A) 1
• B) 2
• C) 3
• D) 4
• E) More information is needed to determine how many workers will be hired.

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Definitions:

Average Fixed Costs

The fixed costs of production divided by the quantity of output produced, depicting the spread of fixed expenses over units produced.

Total Variable Costs

The sum of all costs that vary with output level, including materials, labor, and other expenses that increase as production increases.

Drones

Unmanned aerial vehicles (UAVs) operated by remote control or onboard computers, utilized for various purposes including surveillance, delivery, and recreation.

ATC

The total production cost divided by the amount of goods produced is known as Average Total Cost.