Suppose a 1-Unit Increase in Labour,from 2 to 3 Workers,increases

question 120

Multiple Choice

Suppose a 1-unit increase in labour,from 2 to 3 workers,increases output at a woollen mill from 10 to 15 sweaters.The marginal product from the increase in the quantity of labour is

• A)1 sweater.
• B)3 sweaters.
• C)10 sweaters.
• D)5 sweaters.
• E)15 sweaters.

Understand the concept of de-ethnicization in the context of product mainstreaming.

Comprehend the ethical considerations in marketing communication, particularly around ethnic stereotyping.

Understand factors influencing consumer demand for goods and services.

Recognize the role of consumer confidence in economic activity.

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Definitions:

Non-directional

A hypothesis that does not specify the direction of the expected difference or relationship, indicating only that there is a difference.

Z-statistic

A numerical indicator that shows how a specific value compares to the average of a dataset, expressed as the number of standard deviations away from the mean.

Two-tailed Test

A statistical hypothesis test in which the area of rejection is on both sides of the sampling distribution, allowing for testing in both directions.

Z-statistic

A statistical measure that quantifies the distance (in standard deviation units) a data point is from the mean of a distribution.