Limited access

Upgrade to access all content for this subject

A farmer produces $2{,}000$ bushels of corn and can sell all of the bushels he grows for $\$4$ each. He hires $5$ workers, the last of whom increases his output from $1{,}980$ to $2{,}000$ bushels, and he pays his workers $\$120$ each. Assume the farmer has no other variable costs. In order to maximize his profits, this farmer should

A

raise the price of his corn.

B

decrease the price of his corn.

C

increase the number of workers he hires.

D

decrease the number of workers he hires.

E

leave the price of his corn and the number of workers he hires unchanged.

Select an assignment template