The following table shows the number of bread loaves that can be produced per hour at various levels of labor use.The bakery is a perfectly competitive firm.
Table 16-2
$$\begin{array} { | c | c | }
\hline \text { Labor } & \text { Total output } \
\hline 1 & 5 \
\hline 2 & 16 \
\hline 3 & 30 \
\hline 4 & 40 \
\hline 5 & 45 \
\hline 6 & 48 \
\hline 7 & 49 \
\hline
\end{array}$$
-Refer to Table 16-2.If the price of bread is $4 per loaf and the hourly wage rate is $12 per hour,how many workers will the profit-maximizing bakery hire?
A)3
B)4
C)5
D)6

Question

The following table shows the number of bread loaves that can be produced per hour at various levels of labor use.The bakery is a perfectly competitive firm.
Table 16-2
 $$\begin{array} { | c | c | } 
\hline \text { Labor } & \text { Total output } \
\hline 1 & 5 \
\hline 2 & 16 \
\hline 3 & 30 \
\hline 4 & 40 \
\hline 5 & 45 \
\hline 6 & 48 \
\hline 7 & 49 \
\hline
\end{array}$$
-Refer to Table 16-2.If the price of bread is $4 per loaf and the hourly wage rate is $12 per hour,how many workers will the profit-maximizing bakery hire?
A)3
B)4
C)5
D)6

Quizplus · Accepted Answer

The Answer of The following table shows the number of bread loaves that can be produced per hour at various levels of labor use.The bakery is a perfectly competitive firm.
Table 16-2
 $$\begin{array} { | c | c | } 
\hline \text { Labor } & \text { Total output } \
\hline 1 & 5 \
\hline 2 & 16 \
\hline 3 & 30 \
\hline 4 & 40 \
\hline 5 & 45 \
\hline 6 & 48 \
\hline 7 & 49 \
\hline
\end{array}$$
-Refer to Table 16-2.If the price of bread is $4 per loaf and the hourly wage rate is $12 per hour,how many workers will the profit-maximizing bakery hire?
A)3
B)4
C)5
D)6

The Following Table Shows the Number of Bread Loaves That