The Table Below Shows the Total Production for Varying Numbers

question 49

Multiple Choice

The table below shows the total production for varying numbers of hours worked producing yo-yos.The firm sells its product and hires its workers in competitive markets.
TABLE 13-4
-Refer to Table 13-4.Which of the following statements best describes the situation of this firm when it is employing 15 hours of labour? The 15th hour of labour hired

• A)adds $5 to revenue,but costs $10 to hire,so this firm should hire less labour.
• B)adds $20 to revenue,but only costs $10 to hire,so this firm should hire more labour.
• C)adds $10 to revenue and costs $10 to hire,so this firm is maximizing its profit at 15 hours of labour.
• D)adds $50 to revenue,but only costs $10 to hire,so this firm should hire more labour.
• E)adds $2 to revenue,but costs $10 to hire,so this firm should hire less labour.

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Definitions:

Blue-Circled

A term often used to describe employees whose pay exceeds the maximum of their pay range, typically due to a pay structure adjustment or job reclassification.

Expatriate Employees

Workers who are residing and working in a country other than their native country, often for international companies.

Pay Grade

A range of pay rates defined by a company to compensate employees performing a similar level of work or responsibilities within the organization.

American-Owned Employer

A business entity that is owned by individuals or entities based in the United States.