(Table) the Amount of Labor and Corresponding Output Are Provided

question 165

Multiple Choice

(Table) The amount of labor and corresponding output are provided in the table. The price per unit of output is $11.50. The wage paid per day is $115. Assuming labor is the only cost of production, the wages paid per day are $115. The economic profit earned by this profit-maximizing firm is
$\begin{array}{|c|c|}\hline \text { Labor } & \text { Output } \\\hline 0 & 0 \\\hline 1 & 7 \\\hline 2 & 19 \\\hline 3 & 34 \\\hline 4 & 47 \\\hline 5 & 57 \\\hline\end{array}$

• A) $80.50.
• B) $90.
• C) $110.50.
• D) $125.

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The ability of an individual or group to influence or control the actions, beliefs, or behavior of others within a social framework.

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