Advice for a Firm. You ve been hired as an economic consultant by a price-taking firm that produces scarves. The firm already has a factory, so it is operating in the short run. The price of scarves is $9, the hourly wage is $24, and each scarf requires $1 worth of material. The following table shows the relationship between the number of workers and the output of scarves.
a. Fill in the blanks in the table.
b. What is the profit-maximizing output?
