Refer to the Following

question 12

Multiple Choice

Refer to the following:
The following graph shows the marginal and average product curves for labor, the firm's only variable input. The monthly wage for labor is $2,800. Fixed cost is $160,000.

-When the firm uses 40 units of labor, how much output does it produce?

• A) 1,600 units
• B) 400 units
• C) 4,000 units
• D) 2,800 units
• E) none of the above

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Definitions:

Espoused Values

Espoused values are the explicitly stated values and norms preferred by an organization, which are often communicated through its mission and vision statements.

Global Organization

An entity that operates in multiple countries, often with a centralized headquarter but with operational facilities spread worldwide.

National Cultures

The set of shared values, beliefs, and norms that distinguish the people of one country from those of another.

High Power Distance

A cultural dimension where there is acceptance of unequal power distribution within societies or organizations.