Use the Following to Answer Questions: Table: Sunshine Flower Vase

question 52

Multiple Choice

Use the following to answer questions: Table: Sunshine Flower Vase Co. $$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Number of Workers } \\\text { Daily }\end{array} & \text { Total Revenue (\$) } \\\hline 3 & 1,350 \\\hline 4 & 1,580 \\\hline 5 & 1,760 \\\hline 6 & 1,885 \\\hline 7 & 1,965 \\\hline 8 & 2,015 \\\hline\end{array}$$
-(Table: Sunshine Flower Vase Co.) Refer to the table. If there is competition from new immigrants that lowers the market wage for each worker from $100 to $70 per day, how many workers would the firm hire?

• A) 4
• B) 5
• C) 6
• D) 7

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Definitions:

Market Price

The current price at which an asset or service can be bought or sold in the market.

Taxable Income

The portion of income that is subject to taxation by a government, after all deductions and exemptions.

Tax Liability

The total amount of tax that businesses and individuals are legally obligated to pay to the tax authorities based on their income, assets, or transactions.

Average Tax Rate

The ratio of total taxes paid to total income, indicating the percentage of income that goes to taxes.