Question

13. 2.50 points MC Qu. 112 If the wage... Unit of Output Marginal Price TotalMarginal Revenue Revenue Physical Product Labor ProductProduct $10 10 10 10 10 10 10 10 10 26 46 70 76 78 78 If the wage rate were $30, how many workers would be hired? O 4 O 6 References Multiple Cholce Difficulty: 3 Hard Leaming Objective: 14-06 Exple resource mix for the firm MC Qu. 112 If the wage

Answer 1

Labor Output MPP Price TR PQ MRP TC 30xlaborProfit TR - TO 10 2б 46 60 70 76 78 78 10 10 10 10 10 10 10 10 100 260 460 600 700 760 780 780 30 60 x) 120 150 180 210 240 70 200 370 생80 550 580 bA) 540 1 2 16 冰) 14 10 10 10 10 10 10 10 10 4 7 2 C)

6 Workers will be hired because it maximises profit of firm.