The Table Below Shows the Total Production for Varying Numbers

question 95

Multiple Choice

The table below shows the total production for varying numbers of hours worked producing yo- yos.The firm sells its product and hires its workers in competitive markets. $$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { Hours Worked }\end{array} & \begin{array} { c } \text { Number of } \\\text { Yo-Yos } \\\text { Produced }\end{array} & \begin{array} { c } \text { Wage Rate } \\\text { per Hour } ( \$ ) \end{array} & \begin{array} { c } \text { Price of Yo- Yos } \\( \$ ) \end{array} \\\hline 10 & 60 & 10 & 5 \\\hline 11 & 70 & 10 & 5 \\\hline 12 & 78 & 10 & 5 \\\hline 13 & 84 & 10 & 5 \\\hline 14 & 88 & 10 & 5 \\\hline 15 & 90 & 10 & 5 \\\hline\end{array}$$ TABLE 13- 4
-Refer to Table 13- 4.Which of the following statements best describes the situation of this firm when it is employing 12 hours of labour? The 12th hour of labour hired

• A)adds $30 to revenue,but only costs $10 to hire,so this firm should hire more labour.
• B)adds $8 to revenue,but costs $10 to hire,so this firm should hire less labour.
• C)adds $5 to revenue,but costs $10 to hire,so this firm should hire less labour.
• D)adds $10 to revenue and costs $10 to hire,so this firm is maximizing its profit at 12 hours of labour.
• E)adds $40 to revenue,but only costs $10 to hire,so this firm should hire more labour.

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Definitions:

Assertiveness

The quality of being self-assured and confidently expressing one's rights, needs, and opinions without infringing on the rights of others.

Cooperation

The act of working together towards a common goal or benefit, often involving sharing knowledge, resources, or efforts.

Insufficient

means not enough, lacking in quantity, quality, or degree required.

Communication

The process of exchanging information, ideas, feelings, and messages between individuals or groups.