The Following Data Show the Total Output for a Firm

question 86

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.The average product of labour when the firm hires 3 units of labour is ________.The average product of labour when the firm hires 4 units of labour is ________.

• A)30; 33
• B)90; 132
• C)60; 42
• D)90; 222
• E)30; 90

Analyze and calculate the firm's cash flow to stockholders.

Determine the firm's cash flow from assets.

Comprehend the application of provincial tax rates to income calculations.

Calculate net new borrowing and understand its implications on financial statements.

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Definitions:

Reinforces

Strengthens or supports an idea, behavior, or material structure.

Operant Conditioning Principles

A method of learning that occurs through rewards and punishments for behavior, established by B.F. Skinner, emphasizing the effects of consequences on behavior.

Monitor

To observe and check the progress or quality of something over a period of time; or a device used for observing, checking, or keeping a continuous record of a process or quantity.

Operant Behavior

A behavior that is influenced by the consequences that follow it, such as rewards or punishments, based on the principles of operant conditioning.