Refer to the Following:
Columns 1 and 2 Make Up

question 11

Multiple Choice

Refer to the following:
Columns 1 and 2 make up a portion of a monopolist's production function for a single variable input, labor. Columns 2 and 3 represent the demand function facing the monopolist over this range of output:
$$\begin{array} { c c c } (1) & \text { (2) } & \text { (1) } \\\hline \text { Undsar Labor } & \text { Unds of Oupud } & \text { Price } \\\hline 3 & 370 & \$ 10 \\4 & 490 & 9 \\5 & 570 & 8 \\6 & 600 & 7 \\7 & 670 & 6\end{array}$$
-If an increase in consumers' income increases product price by $2 at each level of output, how many units of labor will the firm employ at a wage rate of $300?

• A) 3
• B) 4
• C) 5
• D) 6
• E) 7

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Definitions:

Small Intestine

A part of the gastrointestinal tract between the stomach and the large intestine that is responsible for most of the digestion and absorption of nutrients.

Cholecystokinin

A hormone released by the small intestine in response to the ingestion of fats, playing a critical role in digestion by stimulating the gallbladder to release bile.

Glossopharyngeal Nerve

The ninth cranial nerve, responsible for sensory and motor functions in the throat, including taste sensation and swallowing.

Mastication

The activity of processing food by chewing, aimed at preparing it for swallowing and digestion.