Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
SalaDinHo SalaDinHo
wrote...
Go to Answer
Posts: 515
Rep: 20 0
5 years ago

Question 1.

Suppose a competitive firm is paying a wage of $12 an hour. Assume that labor is the only input. If hiring another worker would increase output by four units per hour, then to maximize profits the firm should

• not change the number of workers it currently hires.

• hire the extra worker.

• layoff some workers.

• There is not enough information to answer the question.

Question 2.

Suppose a competitive firm is paying a wage of $12 an hour and sells its product at $3 per unit. Assume that labor is the only input. If the last worker hired produces four units of output per hour, then to maximize profits the firm should

• not change the number of workers it currently hires.

• lay off some workers.

• hire another worker.

• There is not enough information to answer the question.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 76 times
3 Replies
Replies
Answer verified by a subject expert
ShayT0923ShayT0923
wrote...
#1
Posts: 387
Rep: 57 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

SalaDinHo Author
wrote...
#2
5 years ago
This site is awesome!
wrote...
#3
5 years ago
Slight Smile Good luck on the rest
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1087 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 192
  
 265
  
 296
Your Opinion
What's your favorite math subject?
Votes: 293
Previous poll results: Who's your favorite biologist?