Consider the Following Production and Cost Schedule for a Firm

question 36

Multiple Choice

Consider the following production and cost schedule for a firm.The first column shows the number of units of a variable factor of production employed by the firm. $$\begin{array} { | c | c | l | } \hline \begin{array} { c } \text { Total Number of } \\\text { Units of the Factor }\end{array} & \begin{array} { c } \text { Total Number of } \\\text { Units of Output }\end{array} & \begin{array} { l } \text { Price per Unit } \\\text { of Output }\end{array} \\\hline 10 & 20 & \$ 10 \\\hline 11 & 44 & \$ 10 \\\hline 12 & 64 & \$ 10 \\\hline 13 & 78 & \$ 10 \\\hline 14 & 84 & \$ 10 \\\hline 15 & 86 & \$ 10 \\\hline\end{array}$$ TABLE 13- 1
-Refer to Table 13- 1.How many units of this factor of production would the profit- maximizing firm hire if the price of each unit of the factor was $140?

• A)13
• B)11
• C)12
• D)14
• E)It is not possible to determine with the data given.

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Definitions:

Discrimination Perception

The awareness or viewpoint that a person or group of people are being treated unfairly or prejudicially based on certain characteristics or attributes.

Employee Consent

The agreement by employees to terms, conditions, or processes in the workplace, often regarding data handling or organizational changes.

Romantic Relationships

Interpersonal relationships characterized by affection, love, or attraction between colleagues that can impact workplace dynamics or policies.

Disclose Existence

The act of making a fact or piece of information known, especially something that was previously hidden or unknown.