Questions Are Based on the Data in the Following

question 35

Multiple Choice

Questions are based on the data in the following table. Assume that the labor market is perfectly competitive.


$\begin{array}{cc}\begin{array}{cc}\underline{\text { Labor }} & \underline{\text { Output }} \\0 & 0 \\1 & 15 \\2 & 29 \\3 & 42 \\4 & 54 \\5 & 65\end{array}\begin{array}{r}\underline{\text { Price }} \\\$ 2.20 \\2.00 \\1.80 \\1.60 \\1.40 \\1.20\end{array}\end{array}$

-Rather than the product demand schedule shown in the table,suppose this firm sold its output competitively for a price of $2.00.In this case,how many workers will this profit-maximizing firm choose to employ at a wage of $25.00?

• A)2
• B)3.
• C)4
• D)5

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