The Upstart Company has the following production function. Number of Workers Number of cases produced 0 0 1 10 2 19 3 26 4 31
The Upstart Company has the following production function.
| Number of Workers | Number of cases produced |
| 0 | 0 |
| 1 | 10 |
| 2 | 19 |
| 3 | 26 |
| 4 | 31 |
| 5 | 34 |
If the company maximizes profit by hiring 4 workers, which of the following could be the real wage rate?
A) 2
B) 4
C) 6
D) 8
Step by Step Solution
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Step: 1
Now lets calculate the MPL for each level of employment MPL when 1 worker is employed ...
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Step: 2
Step: 3
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Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
