Refer to the Given Data

question 60

Multiple Choice

Refer to the given data. If the market wage rate is $5 and the firm hires its profit-maximizing number of workers, the firm's total revenue will exceed its total wage payment by

• A)$70.
• B)$25.
• C)$45.
• D)$15.

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Definitions:

Maslow's Need Hierarchy

A theory in psychology proposed by Abraham Maslow, which outlines a hierarchy of human needs from basic (physiological) to higher (self-actualization) needs.

Security

The condition of being protected from or not exposed to danger or risk; also refers to measures taken for safety.

Motivation Factors

Elements that influence an individual's level of motivation, including intrinsic rewards, recognition, and personal goals.

Herzberg's Two-Factor Theory

A motivational theory that divides factors in the workplace into two categories: hygiene factors, which if inadequate cause dissatisfaction, and motivators, which can lead to satisfaction.