Number ofworkersMarginalproduct(bats per hour)873644The table has the marginal products for workers at Bart's Bats, a baseball bat factory.Using the above table, if the wage rate for a worker in a baseball bat manufacturing plant is $12 an hour, and the price of a bat is $3, then the firm will hireworkersO A. 3О В. 4О С. 1O D. 2O E. 5

Hiring is optimal when (MPL x Output price) = Wage rate So, MPL = wage rate / Output price = $12 /…

Marginal product (bats per hour) Number of workers 8 7 6 4 4 The table has the marginal products for workers at Bart's Bats, a baseball bat factory. Jsing the above table, if the wage rate for a worker in a baseball bat manufacturing plant is $12 an hour, and the price of a bat is $3, then the firm will hire workers O A. 3 ОВ. 4 OC. 1 O D. 2 DE. 5

Marginal product (bats per hour) Number of workers 8 7 6 4 4 The table has the marginal products for workers at Bart's Bats, a baseball bat factory. Jsing the above table, if the wage rate for a worker in a baseball bat manufacturing plant is $12 an hour, and the price of a bat is $3, then the firm will hire workers O A. 3 ОВ. 4 OC. 1 O D. 2 DE. 5

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter4: Labor And Financial Markets

Section: Chapter Questions

Problem 26CTQ: Why are the factors that shift the demand for a product different from the factors that shift the...

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