Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Mila's Pizza is a pizzeria operating in a competitive market. Its short-run production function is shown below. Mila's weekly cost of plant is $900,
1. Mila's Pizza is a pizzeria operating in a competitive market. Its short-run production function is shown below. Mila's weekly cost of plant is $900, its cost of labor is $380 per worker, and its cost of the ingredients used to make pizza is $4 per pie. The going market price of pizza is $12 per pie.
Workers 1 | Pizzas 158 |
2 | 240. |
3 | 306 |
4 | 364 |
5 | 416 |
6 | 464 |
7 | 509 |
Mila's is technically inefficient if it employs_workers and produces --- pizzas. (Check all that apply.)
a. 4; 363
b. 7: 507
c. 5; 416
d. 1; 158
e. 6; 460
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started