Consider the Following Production and Cost Schedule for a Firm

question 122

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. $$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Total Number of } \\\text { Units of the } \\\text { Factor }\end{array} & \begin{array} { c } \text { Total Number of } \\\text { Units of Output }\end{array} & \begin{array} { c } \text { Price per Unit } \\\text { of Output }\end{array} & \begin{array} { c } \text { Total Cost } \\\text { of Production }\end{array} \\\hline 2 & 12 & \$ 10 & \$ 50 \\\hline 3 & 20 & \$ 9 & \$ 55 \\\hline 4 & 26 & \$ 8 & \$ 60 \\\hline 5 & 30 & \$ 7 & \$ 65 \\\hline 6 & 32 & \$ 6 & \$ 70 \\\hline 7 & 32 & \$ 5 & \$ 75 \\\hline\end{array}$$ TABLE 13- 3
-Refer to Table 13- 3.The rise in total revenue generated by hiring the 4th unit of the factor of production is

• A)$2.00.
• B)$28.00.
• C)$3.67.
• D)$7.50.
• E)$- 11.00.

Differentiate between primary and secondary research.

Recognize the importance of critical assessment of electronic information.

Comprehend the significance of efficient note-taking and information recording methods.

Distinguish between different sample types and their applicabilities in research.