Kristi and Rebecca Sell Lemonade on the Corner

question 54

Multiple Choice

Kristi and Rebecca sell lemonade on the corner.It costs them 7 cents to make each cup.On a certain day,they sell 40 cups.Their producer surplus for that day amounts to $19.20.Kristi & Rebecca sold each cup for

• A)31 cents.
• B)38 cents.
• C)45 cents.
• D)55 cents.

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Definitions:

Merit Pay Plans

Compensation strategies that provide pay increases based on an employee's performance, as opposed to seniority or hours worked.

Performance Management System

A continuous process by which managers and employees work together to plan, monitor, and review an employee’s work objectives and overall contribution to the organization.

Performance Measures

Metrics or indicators used to assess the effectiveness, quality, or efficiency of an individual's, group's, or organization's output or activities.

Rewards

Benefits or recognition given to employees for their work performance, often used as a motivational tool within organizations.