Business
Business, 17.12.2019 19:31, barbar12345

Afarmer who has fixed amounts of land and capital finds that total product is 24 for the first worker hired; 32 when two workers are hired; 37 when three are hired; and 40 when four are hired. the farmer's product sells for $3 per unit and the wage rate is $13 per worker. what is the farmer's profit-maximizing output? a) 20.
b) 32.
c) 37.
d) 40.

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Answers: 2

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