Table 18-7
-Refer to Table 18-7. To maximize its profit, how many workers will the firm hire?
A)2
B)3
C)4

Name: Table 18-7 -Refer to Table 18-7. To maximize its profit, how many workers will the firm hire? A)2 B)3 C)4
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Question

Table 18-7 
-Refer to Table 18-7. To maximize its profit, how many workers will the firm hire?
A)2 
B)3 
C)4

Quizplus · Accepted Answer

The firm will hire workers up to the point where the marginal revenue product (MRP) of labor equals the wage rate. Based on the table, this occurs when hiring the third worker.

Table 18-7 -Refer to Table 18-7. to Maximize Its Profit, How Many