The following schedule shows how many jars of Jaynie's Jam can be produced daily with various amounts of labor (assume that the jam is sold in a competitive price- taker market). Workers per Day 1 2 3 4 5 6 7 8 Total Output per Day 11 23 36 47 56 63 69 74 If Jaynie must pay each worker $65 per day and she can sell her jam for $10 per jar, how many workers should she hire if she wants to maximize profits?

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter11: The Firm: Production And Costs
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i wil 5 upvotes. do fast no use chagpt answer.

The following schedule shows how
many jars of Jaynie's Jam can be
produced daily with
various amounts of labor (assume that
the jam is sold in a competitive price-
taker market).
Workers per Day 1 2 3 4 5 6 7 8
Total Output per Day 11 23 36 47 56 63
69 74
If Jaynie must pay each worker $65 per
day and she can sell her jam for $10
per jar, how
many workers should she hire if she
wants to maximize profits?
Transcribed Image Text:The following schedule shows how many jars of Jaynie's Jam can be produced daily with various amounts of labor (assume that the jam is sold in a competitive price- taker market). Workers per Day 1 2 3 4 5 6 7 8 Total Output per Day 11 23 36 47 56 63 69 74 If Jaynie must pay each worker $65 per day and she can sell her jam for $10 per jar, how many workers should she hire if she wants to maximize profits?
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