Use the data in Table: Carmin's Cones to answer the question.
Using the Rational Rule for Employers, the maximum profit Carmin could earn is _____. She would employ _____ workers to earn this profit.
$$\begin{array}{l}
\text { Table: Carmin's Cones ( price } = \$ 8 \text { ) }\
\begin{array} { | l | l | l | l | }
\hline \begin{array} { c }
\text { Number of workers } \
\text { (weekly wage } \$ 400 )
\end{array} & \begin{array} { c }
\text { Marginal product } \
\text { (weekly) }
\end{array} & \text { Number of cones sold } & \text { Profit } \
\hline 1 & 80 & 80 & \
\hline 2 & 63 & 143 & \
\hline 3 & 51 & 194 & \
\hline 4 & 40 & 234 & \
\hline
\end{array}
\end{array}$$

Question

Use the data in Table: Carmin's Cones to answer the question.
Using the Rational Rule for Employers, the maximum profit Carmin could earn is _____. She would employ _____ workers to earn this profit.
$$\begin{array}{l}
\text { Table: Carmin's Cones ( price } = \$ 8 \text { ) }\
\begin{array} { | l | l | l | l | } 
\hline \begin{array} { c } 
\text { Number of workers } \
\text { (weekly wage } \$ 400 )
\end{array} & \begin{array} { c } 
\text { Marginal product } \
\text { (weekly) }
\end{array} & \text { Number of cones sold } & \text { Profit } \
\hline 1 & 80 & 80 & \
\hline 2 & 63 & 143 & \
\hline 3 & 51 & 194 & \
\hline 4 & 40 & 234 & \
\hline
\end{array}
\end{array}$$

Quizplus · Accepted Answer

The marginal product of the third worker is 51, which is greater than the weekly wage of $400. Therefore, Carmin should hire three workers. The profit she would earn is $352, which is calculated as follows:Profit = (Number of cones sold * Price per cone) - (Number of workers * Weekly wage per worker)Profit = (194 * $8) - (3 * $400)Profit = $1,552 - $1,200Profit = $352

Use the Data in Table: Carmin's Cones to Answer the Question