Use the Following to Answer Questions -(Table: Workers and Corn Output)Use Table: Workers and Corn Output
Use the following to answer questions :
-(Table: Workers and Corn Output) Use Table: Workers and Corn Output.Laura is a price-taking farmer who produces corn.Assume that the wage rate for workers is $130 and the price per kilogram of corn is $10.Suppose that Laura acquires more land and as a result the output that can be produced by any given number of workers doubles.Laura should hire _____ workers to maximize profits.
A) 4
B) 5
C) 6
D) 7
Correct Answer:
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