Determine the optimal number of workers to be employed

Reference no: EM131072210

Suppose that, in Question 1 above, wages are not fixed. Instead the firm must pay $50 more to employ each individual worker: the first worker is willing to work for $250, the second for $300, the third for $350, etc. But once employed, each worker actually earns the same wage. Determine the optimal number of workers to be employed. [Hint: you must recognize that each worker earns the same wage; so when one additional worker is hired, the wage must increase to all workers employed.]

Reference no: EM131072210

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