Zowie! Surfboards Has the Following Production Function If Surfboards Sold for $30 and the Nominal Wage Rate

question 55

Multiple Choice

Zowie! Surfboards has the following production function: $$\begin{array} { c c } \begin{array} { c } \text { Number of } \\\text { Workers }\end{array} & \begin{array} { c } \text { Number of } \\\text { Surfboards Produced }\end{array} \\\hline 1 & 12 \\2 & 21 \\3 & 29 \\4 & 36 \\5 & 42 \\\hline\end{array}$$ If surfboards sold for $30 and the nominal wage rate was $200, how many workers would the firm employ?

• A) 2
• B) 3
• C) 4
• D) 5

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Definitions:

Melting Temperature

The specific temperature at which a solid substance turns into a liquid at atmospheric pressure.

Subducted Plate

A tectonic plate that is being forced underneath another plate into the Earth's mantle at a convergent boundary.

Ophiolite

A portion of the Earth's oceanic crust along with the upper mantle beneath it that has been elevated and is now visible above the surface of the sea.

Oceanic Crust

The part of the Earth's crust that underlies the ocean basins, generally thinner and more dense than continental crust, formed at mid-ocean ridges and recycled into the mantle at subduction zones.