Zowie! Surfboards Has the Following Production Function

question 93

Multiple Choice

Zowie! Surfboards has the following production function.

If surfboards sell for $30 and the nominal wage rate is $200,how many workers should the firm employ?

• A)2
• B)3
• C)4

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Definitions:

Behavioral Economics

studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions and the consequences for market prices, returns, and resource allocation.

Myopia

A common vision condition where close objects appear clearly, but distant objects are blurry, often referred to as nearsightedness.

Behavioral Economists

Scholars and professionals dedicated to analyzing how psychological, cognitive, emotional, cultural, and social influences affect the economic choices made by individuals and organizations.