If the Price of Widgets Is $2 and the Real

question 119

Multiple Choice

If the price of widgets is $2 and the real wage is $20 per hour then the firm must sell 10 widgets to cover the cost of an hour of labour.If the price of widgets falls to $1,how many widgets must the firms sell to cover the cost of an hour of labour?

• A)15
• B)30
• C)40
• D)10
• E)20

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Definitions:

Information Gatherer

An individual or tool that collects data or information from various sources for analysis, decision-making, or dissemination purposes.

Ergonomic Keyboard

A keyboard designed to minimize strain and discomfort, often featuring a layout that promotes natural hand, wrist, and arm positions.

Decision Makers

Individuals or entities that have the authority to make choices and establish policies or strategies.

Consumer Socialization

The process by which young people acquire skills, knowledge, and attitudes relevant to their functioning as consumers in the marketplace.