Consider the Following Production and Cost Schedule for a Firm

question 66

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 $200?

• A)12
• B)13
• C)11
• D)10
• E)It is not possible to determine with the data given.

---

Definitions:

Bermuda

A British Overseas Territory in the North Atlantic Ocean, known for its pink sand beaches, subtropical climate, and as a popular tourist destination.

British Empire

The historical empire ruled by Britain, characterized by its vast colonies and dominions across the world, particularly during the 19th and early 20th centuries.

Slave-Based Colony

A colony whose economy and social structure are heavily dependent on the labor of enslaved people.

Hospitalized Child

A child who is admitted to the hospital for treatment of illness, injury, or to undergo medical procedures.