Suppose That Capital Costs $8 Per Unit and Labour Costs

question 17

Multiple Choice

Suppose that capital costs $8 per unit and labour costs $4 per unit. For a profit- maximizing firm operating at its optimal factor mix, if the marginal product of capital is 60, the marginal product of labour must be _ .

• A) 30
• B) 10
• C) 120
• D) 90
• E) 20

Identify strategies for managing dysfunctional norms within teams.

Recognize the foundations of trust within teams and how they affect team dynamics.

Describe factors that influence team cohesiveness and their implications on team performance.

Comprehend the structure and benefits of self-directed teams in organizational settings.

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Definitions:

Cognitive Map

An internal representation of the spatial relationships between objects in an individual's environment, facilitating navigation and understanding of the world.

Partial Reinforcement

A conditioning schedule in which a response is reinforced only some of the time, leading to more resistant behavior to extinction.

Variable Ratio

Variable ratio is a schedule of reinforcement where a response is reinforced after an unpredictable number of responses, making it highly effective in maintaining behavior after it has been learned.

Tobacco Use

The act of consuming tobacco products, including smoking cigarettes, cigars, or using smokeless tobacco.