(Table) Based on the Table, at What Wage Rate Is

question 22

Multiple Choice

(Table) Based on the table, at what wage rate is the supply curve backward bending?
$\begin{array}{c}\text { Labor Supply Schedule }\\\begin{array}{|c|c|}\hline \text { Wage rate (\$/hr.) } & \text { Hours of work (per week) } \\\hline 10 & 26 \\\hline 15 & 32 \\\hline 25 & 36 \\\hline 35 & 40 \\\hline 45 & 41 \\\hline 50 & 38 \\\hline\end{array}\end{array}$

• A) after $25 per hour
• B) after $15 per hour
• C) after $35 per hour
• D) after $45 per hour

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Definitions:

Asset Test

A means of determining an individual's or entity's ability to meet its financial obligations by comparing its liquid assets against its current liabilities.

Operating Segments

Elements of a corporation for which distinct financial data is obtainable, which the chief operating decision maker reviews routinely to determine resource allocation and to evaluate performance.

Reporting Tests

Procedures or checks utilized to ensure financial information is accurate, complete, and in compliance with regulations.

Quantitative Thresholds

Fixed numerical limits or criteria used to trigger certain actions or classify objects in financial and statistical contexts.