Refer to the data provided in Table 10.3 below to answer the following question(s).
Table 10.3 
Refer to Table 10.3. The firm currently employs 4 workers at the market wage of $480 per worker per day. If the firm wants to maximize its profits, it should
A. hire fewer workers
B. hire more workers.
C. shut down since it is incurring a loss.
D. make no adjustments as it is already employing the profit-maximizing number of workers.
Answer: B
You might also like to view...
Refer to Figure 18-1. Europe experiences an economic boom. Assuming all else remains constant, this would be represented as a movement from
A) C to B. B) D to A. C) D to C. D) B to A.
If you will receive $3,000 three years from today and the discount rate is 7 percent, the present value of the $3,000 is
a. $2,779 b. $3,770 c. $1,658 d. $1,962 e. $2,449
Which of the following goals are part of the monetary "trilemma"?
a. predictable exchange rates, free movement of capital, and autonomous monetary policy b. rising exchange rates, free movement of capital, and nationalist monetary policy c. predictable exchange rates, autonomous monetary policy, and protectionist trade policy d. protectionist trade policy, free movement of capital, and rising exchange rates
Which of the following would most likely cause the supply of wheat to increase?
What will be an ideal response?