Table 311 Table 311 Shows the Number of Workers a Firm Is Willing

question 12

Multiple Choice

Table 31.1 $$\begin{array} { | r | c | c | c | } \hline \begin{array} { c } \text { Wage rate (dollars } \\\text { per hour) }\end{array} & \begin{array} { c } \text { Labor demanded } \\\text { (workers) }\end{array} & \begin{array} { c } \text { Total labor cost } \\\text { (dollars per hour) }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Wage (dollars per } \\\text { worker) }\end{array} \\\hline \$ 26 & 0 & & \text { - } \\\hline 24 & 2 & & \\\hline 18 & 4 & & \\\hline 14 & 6 & & \\\hline 10 & 8 & & \\\hline\end{array}$$ 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.

Recognize the significance of the net profit margin as a financial metric.

Understand the treatment of unrealized gains and losses on trading securities.

Differentiate between current and non-current assets in the context of long-term investments.

Identify the classifications of long-term investments in equity securities based on investor influence.

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Definitions:

Label Units

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Interchangeable

Capable of being used in place of each other; mutually substitutable.

Visuals

Images, diagrams, charts, and other graphical elements used in documents or presentations to illustrate, clarify, or add interest to the information being conveyed.