Table 18-1

-Refer to Table 18-1.To maximize its profit,how many workers will the firm hire

Question

Table 18-1
 
-Refer to Table 18-1.To maximize its profit,how many workers will the firm hire

Quizplus · Accepted Answer

The firm should hire the number of workers that would result in the highest profit. From the table, we can see that at 3 workers, the total revenue is the highest at $540, and the total cost is $400. Therefore, the profit is $140 which is the highest among all the other options. Hence, the best choice for the firm would be to hire 3 workers.

Table 18-1 -Refer to Table 18-1.To Maximize Its Profit,how Many Workers Will