Assume That a Price Taker Uses 13 Employee-Hours and an Office

question 101

Multiple Choice

Assume that a price taker uses 13 employee-hours and an office to produce 100 units of output.The price of output is $5,the wage rate is $10,and rent is $200.The firm will collect _____ in total revenue.

• A) $500
• B) $300
• C) $170
• D) $100
• E) $5

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Definitions:

Assume

To accept something to be true without verification or proof, often used in the context of mathematical proofs and hypotheses.

Right Triangle

A triangle that has one angle measuring 90 degrees.

Vertices

The corners or intersection points of geometric shapes where two or more lines, edges, or curves meet.

Line Segments

Portions of a line defined by two endpoints, representing the shortest path between those two points.