The Following Table Provides Information About Production at the XYZ-TV

question 80

Multiple Choice

The following table provides information about production at the XYZ-TV Company. $$\begin{array} { | c | c | c | c | } \hline \text { Number of Workers } & \text { TVs Produced } & \text { Marginal Product } & \begin{array} { c } \text { Value of Marginal } \\\text { Product }\end{array} \\\hline 0 & 0 & \cdots & \cdots \\\hline 1 & 35 & 35 & \$ 35,000 \\\hline 2 & 68 & 33 & \$ 33,000 \\\hline 3 & 99 & 31 & \$ 31,000 \\\hline 4 & 128 & 29 & \$ 29,000 \\\hline 5 & 155 & 27 & \$ 27,000 \\\hline\end{array}$$
How many workers will the XYZ-TV Company hire if the going wage for TV production workers is $30,000?

• A)0
• B)1
• C)2
• D)3

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Definitions:

Firm's Sales

The total revenue generated from goods or services sold by a company within a specific period.

Firm's Customers

Individuals or organizations that purchase and use the products or services offered by a business.

Usage Rate

The frequency at which a product is used by the consumer.

Subscription Basis

A payment model in which customers are charged a recurring fee at regular intervals for access to a product or service.