The questions below deal with the Gizmo Company, which has the following production function. If the real wage is equal to 8 widgets and only an integer number of workers can be hired the Gizmo company should hire 3 workers. 5 workers. 4 workers. 2 workers.

2 workers

Step-by-step explanation:

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The questions below deal with the Gizmo Company, which has the following production function.

# Workers # Produce

0 0

1 10

2 19

3 26

4 31

5 34

If the real wage is equal to 8 widgets and only an integer number of workers can be hired the Gizmo company should hire?

My

2 workers. (where MPL is less than real wage)

x = -3

y = -18

step-by-step explanation:

to solve by substitution, substitute one variable and solve for the other. then substitute again to find the remaining variable.

x-1/3(3x-9) = -3 since y=3x-9 substittute y.

x-1/3(3x-9)=-3

x + x +3 = -3

2x+3=-3

2x+3-3= -3-3

2x=-6

x=-3

substitute again into y=3x-9

y=3(-3)-9

y=-9-9

y=-18