Table 141 -Refer to Table 14

Table 14.1
$\begin{array}{|c|c|}\hline \begin{array}{c}\text { Quantity of } \\\text { labour }\end{array} & \text { Output (units) } \\\hline 1 & 80 \\\hline 2 & 170 \\\hline 3 & 240 \\\hline 4 & 300 \\\hline 5 & 350 \\\hline 6 & 390 \\\hline 7 & 420 \\\hline\end{array}$
-Refer to Table 14.1.Suppose the output price is $3.If the wage rate is $90, what is the profit-maximizing quantity of labour that the firm should hire?

A) 7 units
B) 5 units
C) 4 units
D) 3 units

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free