16 Kaisers installs a new machine that increases the productivity of workers by 50 per cent. If...
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16 Kaiser’s installs a new machine that increases the productivity of workers by 50 per cent. If the price of a smoothie remains at €4 and the wage rate rises to €48 a day, how many workers does Kaiser’s hire?
Kaiser’s Smoothie Bar in Bonn hires workers to produce smoothies. The market for smoothies is perfectly competitive, and the price of a smoothie is €4. The labour market is competitive, and the wage rate is €40 a day. The table shows the workers’ total product schedule:
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Somshukla Chakraborty
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