How can the stages of production be used to determine the most profitable number of workers to hire?.

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Tundexi Tundexi · Answer 1 · 2022-03-03T11:14:13+01:00

The beginning of Stage III of production is when managers can determine the most profitable number of workers to hire.

Production refers to the transformation of raw materials into finished goods as well as delivery them to the final consumers.

The three stage of production includes:

Primary stage: This involves extraction or derivation of raw materials from land, sea, mines etc

Secondary stage: This involves manufacturing of raw materials into finished goods

Tertiary stage: This involves the commercial services that support the production and distribution process,

Now, since in short run. the labor is the factor that can only be increase to influenced output, then, the

In conclusion, the beginning of Stage III of production is when the managers can determine the most profitable number of workers to hire.