Table 18-12 the table displays data for a small, competitive,
Table 18-12
The table displays data for a small, competitive, profit-maximizing firm that produces and sells envelopes. The time frame is one week.
|
Labor |
Marginal Product of Labor |
Wage |
|
0 workers |
||
| 134 boxes of envelopes | $600 | |
| 1 | ||
| 106 | $600 | |
| 2 | ||
| 92 |
$600 |
|
| 3 | ||
| 84 | $600 | |
| 4 | ||
| 78 | $600 | |
| 5 |
Refer to Table 18-12. If the value of the marginal product of the first worker hired is $938, then how many workers does the firm employ?
