The Widget Company has the following production function.
If widgets sell for $6 each and the wage rate is $33,how many workers will the company hire?
A) 0
B) 1
C) 2
D) 4
Correct Answer:
Verified
Q16: Because of diminishing marginal productivity
A)the labor supply
Q17: Suppose the economy's production function is Y
Q18: Suppose that Freedonia has GDP equal to
Q19: In the production function Y = AF(K,N),A
Q20: If Y = A × N ×
Q22: An increase in the real wage rate
Q23: An increase in the number of workers
Q24: An increase in the real wage would
Q25: A supply shock that reduces total factor
Q26: Changes in the capital stock occur _,and
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents