Aurora Custom Cabinets Produces and Sells Custom Kitchen Cabinets

question 55

Multiple Choice

Aurora Custom Cabinets produces and sells custom kitchen cabinets.The firm has determined that if it hires 10 workers,it can produce 4 sets of cabinets per day.If it hires 11 workers,it can produce 4.2 sets of cabinets per day.It sells each set of cabinets for $2,000,and it pays each of its workers $200 per day.

• A)For the 11th worker, the value of the marginal product of labor is $500.
• B)For the 11th worker, the marginal revenue product is $400.
• C)The firm is maximizing its profit.
• D)If the firm is employing 11 workers, then its profit would increase if it cut back to 10 workers.

Identify the legal procedures involved in the enforcement of mortgages, including writs of possession and foreclosure.

Distinguish between different types of mortgages, including open and closed mortgages.

Understand the priority of mortgages and the impact of registration on that priority.

Apply knowledge of mortgage financing in land development scenarios, including the perspectives of developers, builders, and purchasers.

---

Definitions:

Locus Of Control

A psychological concept referring to the degree to which individuals believe that they have control over the outcome of events in their lives.

Politicking

Engaging in political maneuvering or strategizing, often within an organizational context.

Organizational Politics

The complex, often strategic actions and processes within a workplace or organization aimed at using power and social networks to achieve specific goals.

Keeping In Check

The act of controlling or limiting something to prevent it from becoming too powerful or problematic.