Refer to the following:
The table below shows a competitive firm's short-run production function. Labor is the firm's only variable input, and market price for the firm's product is $2 per unit.
-If the wage rate is $200, how many units of labor will the firm employ?
A) 3
B) 4
C) 5
D) 6
E) 0, the firm shuts down
Correct Answer:
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The table below
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The table below
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