According to the above table, if the wage rate is $400 a week and the price of the good produced is $5, the perfectly competitive firm should hire

A) 3 workers.
B) 4 workers.
C) 5 workers.
D) 6 workers.


B

Economics

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A business owner makes 50 items a day. She spends 8 hours in producing those items. If hired elsewhere she could have earned $10 an hour. The item sells for $10 each. Production occurs seven days a week. If the explicit costs total $10,000 a month the economic profit for the month equals:

a. $2,600 b. $2,240 c. $11,760 d. $5,000

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Under what circumstances does inflation cause no harm to either lenders or borrowers?

a. When inflation equals 0. b. When inflation equals the historic mean. c. When inflation equals the inflation of the year before. d. When there is deflation. e. When the actual inflation rate equals the expected inflation rate.

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Economic stagnation coupled with high inflation is commonly called:

A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.

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