Answer question 27 based on the following information. Tom & Jerry Ice Cream Parlour hires workers to produce ice creams. The price of one cup of ice cream is $4 and the wage rate in the labour market is $40 per day. The table below shows the workers' total product schedule. No. of Quantity produced workers (ice cream cups per day) 1 14 2 26 3 36 4 44 5 50 How many workers Tom & Jerry will hire to maximize its profits?
Answer question 27 based on the following information. Tom & Jerry Ice Cream Parlour hires workers to produce ice creams. The price of one cup of ice cream is $4 and the wage rate in the labour market is $40 per day. The table below shows the workers' total product schedule. No. of Quantity produced workers (ice cream cups per day) 1 14 2 26 3 36 4 44 5 50 How many workers Tom & Jerry will hire to maximize its profits?
Chapter16: The Markets For Labor, Capital, And Land
Section: Chapter Questions
Problem 13P
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Transcribed Image Text:Answer question 27 based on the following information. Tom & Jerry Ice Cream Parlour hires workers to
produce ice creams. The price of one cup of ice cream is $4 and the wage rate in the labour market is
$40 per day. The table below shows the workers' total product schedule.
No. of
Quantity produced
workers
(ice cream cups per
day)
1
14
2
26
3
36
4
44
5
50
How many workers Tom & Jerry will hire to maximize its profits?
Select one:
O a. 2 workers
O b. 3 workers
O c. 4 workers
O d. 5 workers
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