The Table Below Shows the Total Production for Varying Numbers

question 73

Multiple Choice

The table below shows the total production for varying numbers of hours worked producing yo- yos. The firm sells its product and hires its workers in competitive markets. $$\begin{array}{l}\begin{array} { | l | l | l | l | } \hline \begin{array} { l } \text { Number of } \\\text { Hours Worked }\end{array} & \begin{array} { l } \text { Number of } \\\text { Yo- Yos } \\\text { Produced }\end{array} & \begin{array} { l } \text { Wage Rate } \\\text { per Hour } ( \$ ) \end{array} & \begin{array} { l } \text { Price of Yo- Yos } \\( \$ ) \end{array} \\\hline 10 & 60 & 10 & 5 \\\hline 11 & 70 & 10 & 5 \\\hline 12 & 78 & 10 & 5 \\\hline 13 & 84 & 10 & 5 \\\hline 14 & 88 & 10 & 5 \\\hline 15 & 90 & 10 & 5 \\\hline\end{array}\\\text { TABLE 13- } 4\end{array}$$
-Refer to Table 13- 4. Which of the following statements best describes the situation of this firm when it is employing 12 hours of labour? The 12th hour of labour hired

• A) adds $5 to revenue, but costs $10 to hire, so this firm should hire less labour.
• B) adds $30 to revenue, but only costs $10 to hire, so this firm should hire more labour.
• C) adds $8 to revenue, but costs $10 to hire, so this firm should hire less labour.
• D) adds $10 to revenue and costs $10 to hire, so this firm is maximizing its profit at 12 hours of labour.
• E) adds $40 to revenue, but only costs $10 to hire, so this firm should hire more labour.

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Definitions:

Somatic Symptom

A physical symptom that is caused or exacerbated by mental factors, often part of a somatic symptom disorder.

Substance Abuse

Engaging in the harmful intake of substances that alter the psyche, encompassing both alcohol and banned drugs.

Psychotic Disorders

A group of serious mental health conditions that affect the mind, causing impaired thoughts and emotions, often involving hallucinations or delusions.

Somatic Symptom

A physical symptom that can cause significant distress or impairment, which may be linked to psychological factors.