Suppose There Are 100 Identical Firms Producing Package Delivery Services

question 196

Multiple Choice

Suppose there are 100 identical firms producing package delivery services. One of the firms finds that when it has to pay a wage rate of $7, it hires 20 delivery people. The firm charges an average price of $10 to deliver a package. From this information, we know that the package delivery industry is hiring a total of:

• A) 100 workers.
• B) 200 workers.
• C) 700 workers.
• D) 2,000 workers.
• E) 10,000 workers.

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Definitions:

Objects

Physical items that are tangible and can be seen or touched.

Visual Aid

Use of imagery or physical objects to support or clarify a presentation or message.

Line Graph

A type of chart used to display information as a series of data points connected by straight line segments, often used to track changes over time.

Pie Chart

A circular statistical graphic, which is divided into slices to illustrate numerical proportion.