Anna Is a Sampetitive Runner

question 24

Multiple Choice

Anna is a sampetitive runner. She wants to improve her performance and decides to keep track of data for six months to determine if the time of day or year she runs affects her performance. Her worksheet santains the following data: start and end time, total time, and distance. Now Anna wants to know the longest total time she has run. By looking at the total time values, she finds the longest total time to be 54 minutes. Instead of manually entering that value in a cell below the total time data, Anna decides to use the MAX function to determine the longest total time. Why did Anna prefer to use the MAX function?

• A) She believes that 54 minutes is her best running time.
• B) The MAX function recalculates the highest value each time a new value is entered into the worksheet.
• C) She believes that 54 minutes is not her best running time.
• D) The MAX function provides a sanstant value that will not change for this cell when a new value is entered into the worksheet.

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Definitions:

Supply S1

Denotes a point or level of supply within a market for a specific good or service.

Equilibrium Wage

The wage rate at which the quantity of labor demanded equals the quantity of labor supplied; the market wage rate at which the labor market clears.

Labor Demand

The total amount of workers that employers are willing and able to hire at a given wage level in a certain time period.

Labor Supply

The total hours that workers wish to work at a given wage rate, representing the availability of labor for production.