Figure 18-1 on the Graph, L Represents the Quantity of Labor and Labor

question 134

Multiple Choice

Figure 18-1
On the graph, L represents the quantity of labor and Q represents the quantity of output per week.
-Refer to Figure 18-1. Suppose the firm sells its output for $25 per unit, and it pays each of its workers $1,000 per week. Also, the firm's non-labor costs are fixed and they amount to $2,000. The firm maximizes profit by hiring

• A)2 workers.
• B)3 workers.
• C)4 workers.
• D)5 workers.

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Definitions:

Disjunctive Syllogism

A form of reasoning wherein from two statements, one necessarily follows as a conclusion if the other is ruled out.

Unstated Premise

An implicit assumption or premise that is not explicitly mentioned but is required for an argument to hold.

Disjunctive Premise

A type of logical statement that presents two or more options in such a way that if one is true, the others must be false.

Negative Proposition

A statement or assertion that denies something, especially a predicate of a subject.