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Suppose a Hong Kong factory employs 4 units of machines at a daily rent of $50. ...
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Suppose a Hong Kong factory employs 4 units of machines at a daily rent of $50. The output of machines is determined by the number of workers hired. The table below shows the average daily output the factory can produce when different number of workers are hired per day. It is known that the daily wage of hiring a worker is $350 and the price of each unit of output is $9.
Workers per day
|
Average output per day
|
0
|
0
|
1
|
90
|
2
|
80
|
3
|
72
|
4
|
64.5
|
5
|
56.6
|
0%
0%
0%
0%
0%