Suppose There Are 100 Identical Firms Producing Package Delivery Services

question 196

Multiple Choice

Suppose there are 100 identical firms producing package delivery services. One of the firms finds that when it has to pay a wage rate of $7, it hires 20 delivery people. The firm charges an average price of $10 to deliver a package. From this information, we know that the package delivery industry is hiring a total of:

• A) 100 workers.
• B) 200 workers.
• C) 700 workers.
• D) 2,000 workers.
• E) 10,000 workers.

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Definitions:

Spicules

Small, pointed structures made of silica or calcium carbonate serving as a skeletal element in sponges and other invertebrates.

Flagella

Long, slender appendages that protrude from the cell body of some bacteria, protozoa, and spermatozoa, used for locomotion.

Sponges

Simple aquatic animals with a porous body that water flows through, belonging to the phylum Porifera.

Nerve Fibers

Long, thin extensions from neurons that transmit nerve impulses to other cells.