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

question 7

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 earn a _____ of _____.

• A) profit;$500
• B) loss;$200
• C) profit;$370
• D) loss;$170
• E) profit;$170

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Definitions:

Predict Behavior

The attempt to forecast an individual’s future actions based on patterns of their past behavior or psychological models.

Surface Traits

Observable qualities or characteristics of personality that can be easily seen by others, in contrast to deeper, less obvious traits.

Source Traits

Fundamental personality traits that are intrinsic to an individual and give rise to surface traits in various situations.

Dynamic Traits

refer to personality attributes that are adaptable and can change in response to different situations or over time.