Table 13-5
the Following Table Shows the Production and Costs

question 143

Multiple Choice

Table 13-5
The following table shows the production and costs for the Wooden Chair Factory.
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$$\begin{array} { | c | c | c | c | c | c | c | } \hline \begin{array} { c } \text { Labor } \\\text { (Number of } \\\text { workers) }\end{array} & \begin{array} { c } \text { Capital } \\\text { (Number of } \\\text { machines) }\end{array} & \begin{array} { c } \text { Output } \\\text { (Chairs } \\\text { produced per } \\\text { hour) }\end{array} & \begin{array} { c } \text { Marginal } \\\text { Product of } \\\text { Labor } \\\text { (Chairs } \\\text { produced per } \\\text { hour) }\end{array} & \begin{array} { c } \text { Cost of } \\\text { Workers } \\\text { (Dollars) }\end{array} & \begin{array} { c } \text { Cost of } \\\text { Machines } \\\text { (Dollars }\end{array} & \begin{array} { c } \text { Total } \\\text { Cost } \\\text { (Dollars) }\end{array} \\\hline 1 & 2 & 5 & & & & \\\hline 2 & 2 & 10 & & & & \\\hline 3 & 2 & 20 & & & & \\\hline 4 & 2 & 35 & & & & \\\hline 5 & 2 & 55 & & & & \\\hline 6 & 2 & 70 & & & & \\\hline 7 & 2 & 80 & & & & \\\hline\end{array}$$ ​
-Refer to Table 13-5. Assume the Wooden Chair Factory currently employs 5 workers. What is the marginal product of labor when the factory adds a 6th worker?

• A)5 chairs per hour
• B)15 chairs per hour
• C)25 chairs per hour
• D)70 chairs per hour

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A type of goal that encourages individuals to give their maximum effort without a specific performance standard.

Specific High Performance Goal

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