The table has the marginal products for workers at Bart's Bats, a baseball bat factory.
-Using the above table,if the wage rate for a worker in a baseball bat manufacturing plant is $12 an hour,and the price of a bat is $3,then the firm will hire ________ workers.

Question

Quizplus · Accepted Answer

Without the table, it's impossible to determine the exact number of workers a firm will hire based on the wage rate and the price of a bat. However, in typical economic models, firms hire workers up to the point where the marginal cost of hiring an additional worker equals the marginal revenue product of that worker. The correct answer would depend on the productivity of the workers and how it translates into the production of baseball bats, as well as the cost of other inputs and the overall demand for the bats.

The Table Has the Marginal Products for Workers at Bart's