Assume a firm employs 10 workers and pays each 15 per hour, Ask an Expert

Economics

Assume a firm employs 10 workers and pays each $15 per hour. Also assume that the marginal product of an 11th worker would be 5 additional units of output per hour and that the price the firm receives for its good is $4 per unit. In the short run, a. the firm should hire at least one additional worker. b. the firm should reduce the number of workers employed. c. the firm should continue to employ exactly 10 workers. d. more information is required to answer this question.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91677657

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