The Following Table Illustrates Alternative Production Techniques for Producing 18

question 97

Multiple Choice

The following table illustrates alternative production techniques for producing 18 widgets that can be sold for $1 each for a total revenue of $18. If the price per unit of labor were to increase from $2 to $3, the most efficient production technique would then be

• A)A.
• B)B.
• C)C.
• D)D.

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Definitions:

Emotion

A complex psychological state that involves an experiential, physiological, and behavioral response to a personally significant matter.

Envy

A feeling of discontent or covetousness with regard to another's advantages, success, or possessions.

Competition

A mode of interaction in which power is unequally distributed, but the degree of inequality is less than in systems of domination. Envy is an important emotion in competitive interactions. Competition in the theory of human ecology refers to the struggle by different groups for optimal locations in which to reside and set up their businesses.

Dramaturgical Analysis

A perspective in sociology that interprets social interactions as if they were part of a theatrical performance, where individuals are actors on stages with roles, scripts, costumes, and sets.