Finding optimal number of workers


Problem: Based on the below information, if the wage rate is $500 and the price of output is $5, how many workers should the firm hire?

Number of workers   Output
0                                0
1                               50
2                              110
3                              300
4                              450
5                              590
6                              665
7                              700
8                              725
9                              710
10                            705

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Microeconomics: Finding optimal number of workers
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