The Following Table Shows the Number of Bread Loaves That

question 9

Multiple Choice

The following table shows the number of bread loaves that can be produced per hour at various levels of labor use.The bakery is a perfectly competitive firm.
Table 16-2
$$\begin{array} { | c | c | } \hline \text { Labor } & \text { Total output } \\\hline 1 & 5 \\\hline 2 & 16 \\\hline 3 & 30 \\\hline 4 & 40 \\\hline 5 & 45 \\\hline 6 & 48 \\\hline 7 & 49 \\\hline\end{array}$$
-Refer to Table 16-2.If the price of bread is $2 per loaf and the wage rate is $20 per hour,how many workers will the profit maximizing firm hire?

• A)3
• B)4
• C)5
• D)6

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