Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $4, and Winnie maximizes his profit when he employs 4 workers, the wage rate is
A) $90 per day.
B) $30 per day.
C) $70 per day.
D) $50 per day.
B
Economics
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If the dollar depreciates against the euro it means that French-made goods become more expensive in the United States
Indicate whether the statement is true or false
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According to the above table, if the marginal revenue product is $48, how many workers will the profit maximizing monopsonist hire?
A) 5 B) 6 C) 7 D) 8
Economics