Question

If the market price of bicycle frames is $500, and frame welders earn a wage of $50, how many welders will be hired? 10. more than 10. fewer than 10. hiring will stop when the mp is 10. hiring will stop when the mp is 0.1.

Answer 1

10 welders will be hired.

Step-by-step explanation:

To determine how many welders will be hired, we need to consider the relationship between the market price (MP) of bicycle frames and the wage of frame welders. If the market price of bicycle frames is $500 and frame welders earn a wage of $50, we can calculate the number of welders hired by dividing the market price by the wage:

Number of welders hired = Market price of bicycle frames / Wage of frame welders = $500 / $50 = 10 welders

Therefore, 10 welders will be hired as long as the market price remains at $500.