2. The table to the right gives the output per hour of a firm which manufactures chairs. Suppose this firm sells its output in a perfectly competitive market and hires its inputs in competitive markets. If the price of chairs is $5, and the wage paid to the firm's workers is $30, how many chairs will the firm produce to maximize profits?
  1. 33
  2. 20
  3. 12
  4. 38
  5. 42
Workers Chairs/Hour
0 0
1 5
2 12
3 20
4 27
5 33
6 38
7 42
8 45

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