If an Increase in Output from 5 to 10 Teapots

question 134

Multiple Choice

If an increase in output from 5 to 10 teapots increases total cost from $100 to $200,the marginal cost of one of those 5 teapots is

• A)$10.
• B)$20.
• C)$22.
• D)$25.
• E)dependent upon the amount of extra labour used.

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Definitions:

Need Hierarchy

A theory of motivation proposed by Abraham Maslow, suggesting that people are motivated by a hierarchy of needs starting from basic physical requirements up to higher needs like self-actualization.

Progression Hypothesis

The concept that suggests an individual's needs or motivations follow a specific order or progression, similar to Maslow's hierarchy of needs.

Empirical Hypothesis

A proposition that can be tested through observation and experiments to determine its validity.

Scientific Management

A theory of management that analyzes and synthesizes workflows, aiming to improve economic efficiency, especially labor productivity, by systematic study of work methods.