Based on the table below,how many workers will the firm employ in order to maximize profits?

Question

Quizplus · Accepted Answer

From the table, we can see that at 7 workers, the marginal revenue product (MRP) is highest at $84, while the marginal cost (MC) is $60. At any number of workers above 7, the MRP will be lower than $84 and the MC will be higher than $60, resulting in lower profits. Therefore, the firm should employ 7 workers to maximize profits.

Based on the Table Below,how Many Workers Will the Firm