Question 1
Refer to the data provided in Table 10.2 below to answer the following question(s).
Refer to Table 10.2. The most firms would be willing to pay per worker and hire three total workers is
◦ $120.
◦ $150.
◦ $200.
◦ $250.
Question 2
Refer to the data provided in Table 10.2 below to answer the following question(s).
Refer to Table 10.2. The firm currently employs 4 workers at the market wage of $120 per worker per day. If the firm wants to maximize its profits, it should
◦ hire fewer workers
◦ hire more workers.
◦ make no adjustments as it is already employing the profit-maximizing number of workers.
◦ shut down since it is incurring a loss.
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