Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm.
TABLE 13-1
-Refer to Table 13-1.How many units of this factor of production would the profit-maximizing firm hire if the price of each unit of the factor was $30?
A)12
B)13
C)14
D)15
E)It is not possible to determine with the data given.

Question

Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm.
  TABLE 13-1
-Refer to Table 13-1.How many units of this factor of production would the profit-maximizing firm hire if the price of each unit of the factor was $30?
A)12 
B)13 
C)14 
D)15 
E)It is not possible to determine with the data given.

Quizplus · Accepted Answer

The Answer of Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm.
  TABLE 13-1
-Refer to Table 13-1.How many units of this factor of production would the profit-maximizing firm hire if the price of each unit of the factor was $30?
A)12 
B)13 
C)14 
D)15 
E)It is not possible to determine with the data given.

Consider the Following Production and Cost Schedule for a Firm