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Suppose There Are 100 Identical Firms Producing Package Delivery Services

Question 61

Multiple Choice

Suppose there are 100 identical firms producing package delivery services. One of the firms finds that when it has to pay a wage rate of $7, it hires 20 delivery people. The firm charges an average price of $10 to deliver a package. From this information, we know that the package delivery industry is hiring a total of:


A) 100 workers.
B) 200 workers.
C) 700 workers.
D) 2,000 workers.
E) 10,000 workers.

Correct Answer:

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