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Gerhardt Is a Bicycle Mechanic,and He Can Repair 6 Bikes

Question 87

Multiple Choice

Gerhardt is a bicycle mechanic,and he can repair 6 bikes a day at a market price of $25.00.If he can't find any bike shop to hire him,


A) the wage rate must be more than $150 per day.
B) the wage rate must be less than $25 per day.
C) then Gerhardt's marginal revenue product must be negative.
D) the wage rate must be less than $150 per day.
E) then Gerhardt's marginal product must be negative.

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