Refer to the Given Data

question 50

Multiple Choice

Refer to the given data. If the market wage rate is $8 and the firm hires its profit-maximizing number of workers, the firm's total wage bill (payment) will be

• A)$16.
• B)$24.
• C)$32.
• D)$48.

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Definitions:

Expectancy Theory

A motivational theory suggesting that individuals are motivated to act in certain ways based on the expectation that their actions will lead to desired outcomes.

Motivation

An inner drive that directs a person’s behavior toward goals.

Perception

The process by which a person selects, organizes, and interprets information received from his or her senses.