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irina1246 [14]
2 years ago
5

If the firm sells its product at the market price of $10 per unit, how many workers should the firm employ to maximize profit if

the wage rate is $55
Business
1 answer:
Bingel [31]2 years ago
7 0

Answer:

the data regarding output and the quantity of labor is missing, so I looked for a similar question and found the attached image.

if one employee is hired, total production = $80, and total cost = $55

if two employees are hired, total production = $150, and total cost = $110

if three employees are hired, total production = $210, and total cost = $165

if four employees are hired, total production = $260, and total cost = $260

hiring <u>four employees</u> should maximize profits since MC = MR

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