-The Table Above Shows the Number of Pounds of Bricks

question 315

Multiple Choice

-The table above shows the number of pounds of bricks that can be produced by the Red Brick Company as the number of workers hired increases. The brick market is perfectly competitive and each pound of bricks sells for $20. The labor market is competitive and the wage rate is $30 an hour. When the Red Brick Company maximizes its profit, it produces ________ bricks an hour.

• A) 19
• B) 21
• C) 22
• D) 10

---

Definitions:

Normally Distributed

A probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Error Term

The part of an observation in regression analysis that is not explained by the model, representing the discrepancy between observed and predicted values.

Variance

A measure of the dispersion, indicating how spread out the data points are from the mean.

Response Variable

Another word for the dependent variable of interest.