Use the Following to Answer Question

question 265

Multiple Choice

Use the following to answer question:
-(Table: Workers and Corn Output) Use Table: Workers and Corn Output.Laura is a price-taking farmer who produces corn.Assume that the wage rate for workers is $125 and the price per bushel of corn is $10.Suppose that Laura is employing 7 workers.If she reduces employment to 6 workers,her profits will:

• A)increase by $20.
• B)decrease by $970.
• C)increase by $105.
• D)increase by $90.

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Definitions:

Original Correlation

The initial statistical relationship observed between two variables before any manipulation or control is applied.

Multiple Correlation

A statistical measure representing the relationship between one dependent variable and two or more independent variables.

Batting Average

A key statistical measure in baseball that represents the ratio of a batter's hits to their at-bats.

Success

The achievement of a goal or objective, often measured by specific criteria or standards in various contexts.