The Following Table Shows the Output of Chairs Produced by a Firm

question 124

Multiple Choice

The following table shows the output of chairs produced by a firm at different units of capital rented. The price per chair is $10.

-Refer to the table above.If the price of a chair increases to $15 and the rental price of machines is $90 per day,how many machines should the firm rent to maximize profits?

• A) 1
• B) 3
• C) 5
• D) 6

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Definitions:

Infant Categorization

The process by which infants begin to organize objects, people, and concepts in their environment into categories.

Attention

The action of focusing cognitive resources on a specific stimulus or task, excluding others.

Memory

The cognitive function that allows an individual to store, retain, and subsequently recall information.

Static Stimuli

Visual or auditory input that does not change over time, used in experiments to assess sensory or cognitive responses.