Terrier Touring is a dog-walking service with the production function shown in the accompanying table. What is

Question:

Terrier Touring is a dog-walking service with the production function shown in the accompanying table. What is the total revenue earned if Terrier Touring hires four workers per hour? 

a. $18 per hour

b. $20 per hour

c. $90 per hour

d. $15 per hour

e. $70 per hour

Workers/Hour 0 1 2 3 4 5 6 Total Product (Dogs Walked/Hour) 0 6 11 15 18 20 21 Price ($/Walk) 5.00 5.00 5.00

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: