Use the Table Below to Answer the Following Questions

question 69

Multiple Choice

Use the table below to answer the following questions.
Table 6.2.1

-Table 6.2.1 gives the supply and demand schedules for teenage labour in Genoa City. Suppose a new fast food restaurant opens and increases the quantity demanded of teenage labour by 400 hours per week at each wage rate. If the teenage labour market is unregulated, there is an increase in teenage employment to

• A)1,000 hours per week and a wage of $5 per hour.
• B)1,000 hours per week and a wage of $7 per hour.
• C)800 hours per week and a wage of $6 per hour.
• D)600 hours per week and a wage of $7 per hour.
• E)400 hours per week and a wage of $7 per hour.

---

Definitions:

Unique Items

Unique items refer to goods or products that are distinct due to their characteristics, design, or limited availability, making them stand out from regular or mass-produced items.

Process Cost System

A type of cost accounting system that provides product costs for each manufacturing department or process; a type of cost system that records product costs for each manufacturing department or process within a manufacturing facility.

Cost Of Production Report

A report prepared periodically by a processing department, summarizing (1) the units for which the department is accountable and the disposition of those units and (2) the costs incurred by the department and the allocation of those costs between completed and incomplete production.

Equivalent Units

A concept in process costing that converts partially completed units into an equivalent number of fully completed units to measure output in a consistent way.