The Following Data Show the Total Output for a Firm

question 45

Multiple Choice

The following data show the total output for a firm when different amounts of labour are combined with a fixed amount of capital.Assume that the wage per unit of labour is $10 and the cost of the capital is $50.
TABLE 7-3
-Refer to Table 7-3.What is the total output per period when this firm is employing labour such that the marginal product of labour is at its maximum?

• A)30
• B)60
• C)90
• D)132
• E)150

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Definitions:

Indirect Compensation

Benefits provided to employees that are not directly paid out as wages, including health insurance, retirement plans, and paid time off.

Employee Assistance Program (EAP)

A workplace initiative that provides employees with confidential counseling services for personal or work-related issues.

Counselling and Referral Services

Support services offered by employers to assist employees with personal or work-related issues, often involving professional guidance and external resource recommendations.

Seminars and Workshops

Educational and training sessions focused on specific topics or skills, often involving interactive and practical activities to enhance learning.