Table 71 -Refer to Table 7

question 156

Multiple Choice

Table 7.1
$$\begin{array}{l}\text { Table } 7.1\\\begin{array} { | c | c | c | c | c | c | } \hline { \text { Not in Labor Force } } & &{ \text { Unemployed } } && { \text { Employed } } \\\hline \text { Male } & \text { Female } & \text { Male } & \text { Female } & \text { Male } & \text { Female } \\\hline 10 \text { million } & 20 \text { million } & 2 \text { million } & 2 \text { million } & 30 \text { million } & 20 \text { million } \\\hline\end{array}\end{array}$$
-Refer to Table 7.1, which shows data for males and females over 16 years old in the island of Palma. What is the adult labor force?

• A) 4 million
• B) 32 million
• C) 50 million
• D) 54 million
• E) 84 million

Understand the concepts of imperfect competition and how it affects the labor market.

Identify and explain the relationship between marginal product and marginal resource cost.

Analyze the impact of competitive and non-competitive markets on firms' product pricing and labor hiring decisions.

Calculate marginal product and marginal resource cost based on given data.

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Definitions:

Unique Traits

Traits possessed by one or a few persons.

Perseverative Functional Autonomy

A concept in psychology that refers to behaviors persisting from previously established habits, even after the original motives or goals behind them have changed.

External Reward

Any tangible or intangible form of reinforcement or incentive provided from an external source to encourage or modify behavior.

Humanistic Values

A set of core principles emphasizing the importance of human dignity, freedom, and potential, often associated with a positive view of human nature.