The Following Table Shows Worker, Quantity of Output, and Output

question 4

Essay

The following table shows worker, quantity of output, and output price information for a mechanical pencil manufacturer. The cost of materials used in each mechanical pencil $1.50.
a. Complete the following table
b. How many mechanical pencils should the firm produce to maximize profits if the wage rate is $7.50 per hour? Why?

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Definitions:

Genus Name

The part of the scientific name in binomial nomenclature that classifies a group of closely related species; it comes first and is capitalized.

Independent Variable

The variable in an experiment that is manipulated or changed by the researcher to observe its effects on the dependent variable.

Bacterial Culture

A procedure involving the growth of bacteria in a controlled and defined environment, usually on a nutrient media in a lab.

Growth Rate

The rate at which a population or an organism grows, usually expressed as a percentage per unit time.