Given the Following Table,how Many Workers Should Be Hired to Maximize

question 90

Multiple Choice

Given the following table,how many workers should be hired to maximize profits?
$\begin{array}{|l|l|l|l|}\hline \text { Labor } & \begin{array}{l}\text { Marginal } \\\text { Product Labor }\end{array} & \begin{array}{l}\text { VMP } \\\text { L }\end{array} & \text { Wage } \\\hline 1 & 8 & \$ 32 & \$ 100 \\\hline 2 & 32 & \$ 128 & \$ 100 \\\hline 3 & 16 & \$ 64 & \$ 100 \\\hline 4 & -1 & \$-4 & \$ 100 \\\hline 5 & -12 & \$-48 & \$ 100 \\\hline\end{array}$

• A) 1
• B) 2
• C) 3
• D) 4

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Definitions:

Plumbers

Tradespeople specializing in installing, maintaining, and repairing systems used for water, sewage, and drainage in plumbing systems.

Landscapers

Professionals who design, maintain, and modify outdoor spaces, gardens, and yards to enhance aesthetic appeal and functionality.

Automobile Traffic

The movement and flow of vehicles on roadways, often studied to improve road safety and reduce congestion.

Foot Traffic

The number of people moving around in a particular space, often used as an indicator of the potential customer base for businesses in retail locations.