The accompanying table shows production figures for Snoodle Corporation, which sells snoodles. Labor is Snoodle's only input,

Question:

The accompanying table shows production figures for Snoodle Corporation, which sells snoodles. Labor is Snoodle's only input, and wages make up Snoodle's only cost. If the equilibrium price of a snoodle is $10.00 and the wage paid to labor is $175.00 per day, the optimum number of workers to hire is______ per day. At that level of employment, total costs are_______ per day

a. 2 workers; $120.00

b. 2 workers; $256.00

c. 4 workers; $180.00

d. 4 workers; $40.00

e. 4 workers; $700.00

Workers/Day 1 2 3 4 5 6 7 Marginal Product (Snoodles/Day) 22 25 20 18 15 10 8