Number of workers 0 1 2 3 4 5 6 7 8 output dozens 0 8

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Unformatted text preview: s given in the table below. Number of Workers 0 1 2 3 4 5 6 7 8 Output (dozens) 0 8 15 21 26 30 33 35 36 (a) Using marginal analysis, state the condition for employing the profit-maximizing number of workers. (b) How many workers should Leadmill hire to maximize profit? Explain how you derived that number. (c) If the wage rate decreased to $6 dollars per hour, how many workers would Leadmill employ? (d) If the wage rate was $6 per hour and the price of pencils decreased to $1 per dozen, how many workers would Leadmill employ? END OF EXAMINATION Copyright © 2003 by College Entrance Examination Board. All rights reserved. Available to AP professionals at and to students and parents at 4...
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This note was uploaded on 02/03/2014 for the course ECONOMIC 112 taught by Professor Van le during the Fall '12 term at American Internation College.

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