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The production function for apples is shown in the following table. The output is bushels produced per week. Assume the firm is a price-taking producer.
The production function for apples is shown in the following table. The output is bushels produced per week. Assume the firm is a price-taking producer. Labor Output (bushels of apples) 0 0 1 100 2 180 3 240 4 280 5 300 The price for a bushel of apples is $13. If five people are hired and the firm has hired the profit-maximizing level of workers, the weekly wage must be no more than $_____
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