A firm operating in competitive input and output markets purchases new technology, which shifts the total product schedule from A to B, as shown in the data below.Schedule ASchedule BNumber of WorkersTotal ProductNumber of WorkersTotal Product130135240247348357454465559571663676At the market wage rate of $30 and product price of $5, this firm will
A. increase the number of laborers hired from 4 to 6.
B. increase the number of laborers hired from 4 to 5.
C. decrease the number of laborers hired from 4 to 3.
D. hire the same number of laborers in both situations.
Answer: B
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