Refer to the Table, Which Gives Data for a Firm

question 243

Multiple Choice

Refer to the table, which gives data for a firm that is hiring labor in a purely competitive market. If the wage rate is $56, how many workers will the firm choose to employ?

• A)3
• B)2
• C)0

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Definitions:

Stock Dividend

A dividend payment made to shareholders in the form of additional shares of stock, rather than cash.

Declaration

An official statement, announcement, or the act of revealing information explicitly.

Market Value

The current price at which an asset or service can be bought or sold in the market.

Large Stock Dividend

The distribution of a significant number of additional shares to existing shareholders, typically used to conserve cash while still providing a dividend.