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This firm produces widgets in a purely competitive output market and hires labor in a purely competitive labor market. The price of widgets is $4

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This firm produces widgets in a purely competitive output market and hires labor in a purely competitive labor market. The price of widgets is $4 each. As this firm hires more workers, widgets are produced according to the following production function. Workers Widgets per hour 1 20 2 30 3 40 4 4 45 50 5 6 54 7 58 8 00 61 9 64 10 66 Assume the equilibrium wage is $20 per hour. How many workers will this firm choose to hire? 4 workers 5 workers 6 workers 7 workers 8 workers 9 workers 10 workers

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