Consider the Following Production and Cost Schedule for a Firm

question 78

Multiple Choice

Consider the following production and cost schedule for a firm. $$\begin{array}{l}\begin{array} { | l | l | l | l | } \hline \begin{array} { l } \text { Total Number of } \\\text { Units of the } \\\text { Factor }\end{array} & \begin{array} { l } \text { Total Number of } \\\text { Units of Output }\end{array} & \begin{array} { l } \text { Price per Unit } \\\text { of Output }\end{array} & \begin{array} { l } \text { Total Cost } \\\text { of Production }\end{array} \\\hline 2 & 12 & \$ 10 & \$ 50 \\\hline 3 & 20 & \$ 9 & \$ 55 \\\hline 4 & 26 & \$ 8 & \$ 60 \\\hline 5 & 30 & \$ 7 & \$ 65 \\\hline 6 & 32 & \$ 6 & \$ 70 \\\hline 7 & 32 & \$ 5 & \$ 75 \\\hline\end{array}\\\text { TABLE 13- } 3\end{array}$$
-Refer to Table 13- 3. The total revenue obtained if the 7th unit of the factor of production is hired is

• A) $180.
• B) $160.
• C) $210.
• D) $202.
• E) $192.

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Definitions:

Personality Characteristics

Traits that define an individual’s patterns of thought, feeling, and behavior, making up their unique personality.

Trait Activation Theory

Suggests that certain situations or environments can trigger the expression of specific personality traits.

Dispositional Approach

A perspective in psychology that focuses on an individual's inherent qualities or traits in explaining their behavior.

Stable Traits

Stable Traits are enduring characteristics or qualities that remain consistent across different situations and over time, forming the foundation of an individual's personality.