Solved: Kaisers ice cream parlour hires workers to produce milk, Microeconomics

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Kaisers ice cream parlour hires workers to produce milk

Question: Kaiser's Ice Cream Parlour hires workers to produce milk shakes. The market for milk shakes is perfectly competitive, and the price of a milk shake is $4. The labour market is competitive, and the wage rate is $40 a day. The table shows the workers' total product schedule.

If the price of a milk shake rises to $5, how many workers will Kaiser's hire?

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