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Question
Table 17-3| Number of Workers | Output of Microwave Ovens per Week |
| 1 | 30 |
| 2 | 55 |
| 3 | 75 |
| 4 | 90 |
| 5 | 100 |
| 6 | 105 |
Hotspur Incorporated, a manufacturer of microwave ovens, is a price taker in its input and output markets. The firm hires labor at a constant wage rate of $800 per week and sells microwave ovens at a constant price of $80. Table 17-3 shows the relationship between the quantity of labor it hires and the quantity of microwave ovens it produces.
Refer to Table 17-3. What is Hotspur's profit maximizing quantity of labor?
A) 2 workers
B) 3 workers
C) 5 workers
D) 6 workers
Answer
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Related questions
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