Question #70397
acme can get $5 for each widget it produces. how many workers it will hire if the nominal wage is $38?
Expert's answer
W=$38.
Acme can hire 1 worker, since MRPN ($40) is greater than W ($38) at N = 1. It is not recommended to hire 2 workers, since MRPN ($35) < W ($38) at N = 2.
Acme can hire 1 worker, since MRPN ($40) is greater than W ($38) at N = 1. It is not recommended to hire 2 workers, since MRPN ($35) < W ($38) at N = 2.
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#339914 on Dec 2023
#339914 on Dec 2023