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Author Question: The table below shows the total production for varying numbers of hours worked producing yo-yos. The ... (Read 50 times)

markburs

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on: Oct 12, 2022
The table below shows the total production for varying numbers of hours worked producing yo-yos. The firm sells its product and hires its workers in competitive markets.

Number of
 Hours Worked		Number of 
Yo-Yos 
Produced		Wage Rate
per Hour (S)		Price of Yo-Yos
($)
1060105
1170105
1278105
1384105
1488105
1590105
TABLE 13-4

Refer to Table 13-4. Which of the following statements best describes the situation of this firm when it is employing 12 hours of labour? The 12th hour of labour hired
◦ adds $40 to revenue, but only costs $10 to hire, so this firm should hire more labour.
◦ adds $8 to revenue, but costs $10 to hire, so this firm should hire less labour.
◦ adds $30 to revenue, but only costs $10 to hire, so this firm should hire more labour.
◦ adds $10 to revenue and costs $10 to hire, so this firm is maximizing its profit at 12 hours of labour.
◦ adds $5 to revenue, but costs $10 to hire, so this firm should hire less labour.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by markburs on Oct 12, 2022

Deonnak85

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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markburs

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Reply 2 on: Oct 12, 2022
:D TYSM

matt95

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Reply 3 on: Yesterday
Excellent

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