Below Is Productivity Data for Firm Nearly Done Inc

question 131

Multiple Choice

Below is productivity data for firm Nearly Done Inc.which purchases resources in a perfectly competitive factor market.

-Refer to the above information to answer this question.At its optimal output,what quantity of labour will Nearly Done Inc.employ if the market wage rate is $8?

• A)1.
• B)6.
• C)7.
• D)8.
• E)9.

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Definitions:

Total Revenue

The total amount of money generated by a firm from the sale of its goods or services.

Hats

headwear designed for various purposes, including protection against environmental conditions, religious significance, or as a fashion accessory.

Deadweight Loss

The reduction in economic productivity that happens when a good or service does not reach or cannot reach its market equilibrium.

Marginal Cost

The cost of producing one more unit of a good or service.