Question
Labor units Output 1 20 2 38 3 54 4 68 5 80 the table above...
| Labor units | Output |
| 1 | 20 |
| 2 | 38 |
| 3 | 54 |
| 4 | 68 |
| 5 | 80 |
the table above gives some information on labor demand for a perfect competitor. The firm faces an output price of $5. How many workers would the firm hire if the wage rate were $55? _____workers hired
How much would its wage bill be?
$____ would be its wage bill
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