Refer to exhibit 27-5. assume the firm is a factor price taker and that the price of a unit of labor is constant at $360. the firm should hire __________ of labor. one unit two units three units four units five units
Four (4) units is the answer in this question. The firm should at least hire four units of labor. When we assume that the firm is a factor price taker and that the price of a unit of labor is constant at 360 dollars then the firm should hire 4 units of labor.
