Table 12-1 -Refer to Table 12-1.What Is Total Output When 5 Workers

question 410

Multiple Choice

Table 12-1

-Refer to Table 12-1.What is total output when 5 workers are hired?

• A) -10
• B) 120
• C) 160
• D) 190

---

Definitions:

Normal Goods

Goods for which demand increases as the income of individuals increases.

Income Elasticity of Demand

A gauge for the sensitivity of demand for an item to shifts in the income levels of buyers.

Sapphire Pendant Necklaces

Jewelry items consisting of pendants made from the gemstone sapphire, typically hung on a chain or necklace.

Income Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in consumers' income, expressed as a percentage change in demand divided by the percentage change in income.