Suppose There Are 100 Identical Firms Producing Package Delivery Services

question 196

Multiple Choice

Suppose there are 100 identical firms producing package delivery services. One of the firms finds that when it has to pay a wage rate of $7, it hires 20 delivery people. The firm charges an average price of $10 to deliver a package. From this information, we know that the package delivery industry is hiring a total of:

• A) 100 workers.
• B) 200 workers.
• C) 700 workers.
• D) 2,000 workers.
• E) 10,000 workers.

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Definitions:

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, and environment.

Nonjudgmental Observation

Nonjudgmental observation involves noticing and acknowledging thoughts, feelings, and sensations without attaching judgment or analysis.

Working Backward

A problem-solving technique that identifies the final goal and the steps, in reverse order, that are necessary to reach the goal.

Sub-goals

Sub-goals are smaller tasks or objectives set as steps towards achieving a more significant goal, helping to organize and focus efforts.