Figure 21-8 -Refer to Figure 21-8. If the Price of Good X

question 238

Multiple Choice

Figure 21-8
-Refer to Figure 21-8. If the price of good X is $5, and your budget constraint is DE, what is the price of good Y?

• A)$10
• B)$5
• C)$2.50
• D)$1.67

---

Definitions:

Factory Labor

Refers to the workforce involved in the operational processes within a manufacturing facility, often considered a direct cost in production.

Employer Payroll Taxes

Taxes that employers are required to pay on behalf of their employees, which may include Social Security, Medicare, and unemployment taxes.

Gross Earnings

Total compensation earned by an employee.

Direct Labor Hour

A measure of labor input, which is the time spent by workers directly manufacturing a product.