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Exhibit 11-8

-In Exhibit 11-8, if the wage rate is $44 and does not vary, how many workers will be hired?

Question

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Exhibit 11-8
 
-In Exhibit 11-8, if the wage rate is $44 and does not vary, how many workers will be hired?

Quizplus · Accepted Answer

To determine the number of workers hired at a wage rate of $44, we need to find the point where the marginal revenue product (MRP) curve intersects the wage rate of $44. By looking at the graph in Exhibit 11-8, we can see that the MRP intersects the wage rate of $44 at 5 workers. Therefore, the answer is (C) five.

NARRBEGIN: Exhibit 11-8-1 Exhibit 11-8