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apadong apadong
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6 years ago
A wheat farmer sells wheat in a perfectly competitive market and hires labor in a perfectly competitive market. The market price of wheat is $2 a bushel, the wage rate is $10, and the farmer employs five workers.  If the farmer is maximizing his profits, then the marginal product of the fifth worker is ________.
A) 0.2 bushels
B) 5 bushels
C) 20 bushels
D) indeterminate from the given information.
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DeToXiFYDeToXiFY
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#1
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6 years ago
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apadong Author
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#2
6 years ago
Thx very much
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