Table 311 Shows the Number of Workers a Firm Is Willing

question 15

Multiple Choice

Table 31.1 shows the number of workers a firm is willing to hire per hour at different wage rates. Complete the table by computing the total wage bill (total labor cost) and the marginal wage. Assume the union collects dues of 1 percent of the total wage bill. At what wage in Table 31.1 would the union maximize the amount of dues it collects?

• A) $10 per hour.
• B) $14 per hour.
• C) $18 per hour.
• D) $22 per hour.

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Definitions:

Loperamide

An over-the-counter medication commonly used to reduce the frequency of diarrhea by slowing down gut movement.

Acute Diarrhea

A condition characterized by the sudden onset of frequent, loose, or watery stools, often lasting a few days and usually not longer than two weeks.

Antidiarrheal Drug

Medications designed to slow the movement of the intestinal tract to reduce diarrhea.

Melena

The passage of dark, tarry stools containing digested blood, indicative of upper gastrointestinal bleeding.