Number of workers | Marginal product (bats per hour) |
1 | 8 |
2 | 7 |
3 | 6 |
4 | 5 |
5 | 4 |
The table has the marginal products for workers at Bart's Bats, a baseball bat factory.
Using the above table, if the wage rate for a worker in a baseball bat manufacturing plant is $18 an hour, and the price of a bat is $3, then the firm will hire ________ workers.
◦ 1
◦ 2
◦ 3
◦ 4
◦ More information is needed to determine how many workers will be hired.