Refer to the Data Provided in Table 10 -Refer to Table 10

question 40

Multiple Choice

Refer to the data provided in Table 10.2 below to answer the following question(s) .
Table 10.2 $$\begin{array} { c c c } \begin{array} { c } \text { Total Labor Units } \\\text { (employees) }\end{array} & \begin{array} { c } \text { Total Product } \\\text { (frames per day) }\end{array} & \begin{array} { c } \text { Price per } \\\text { Frame }\end{array} \\\hline 0 & 0 & \$ 10 \\1 & 10 & \$ 10 \\2 & 30 & \$ 10 \\3 & 55 & \$ 10 \\4 & 70 & \$ 10 \\5 & 82 & \$ 10\end{array}$$
-Refer to Table 10.2. The firm currently employs 4 workers at the market wage of $120 per worker per day. If the firm wants to maximize its profits, it should

• A) hire fewer workers
• B) hire more workers.
• C) make no adjustments as it is already employing the profit-maximizing number of workers.
• D) shut down since it is incurring a loss.

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Definitions:

Performance Goals

Objectives centered around achieving a specific standard of proficiency on a task, often within a set timeframe.

Intrinsic Pleasure

A sense of satisfaction or joy derived from engaging in an activity for its own sake, rather than for some external reward.

Intrinsic Satisfaction

A sense of fulfillment or joy derived from within oneself, not dependent on external factors.

Extrinsic Rewards

Rewards that come from outside an individual, such as money, praise, or awards, which motivate behavior.