If 9 Units of Labor Will Be Supplied If the Wage

question 7

Multiple Choice

If 9 units of labor will be supplied if the wage rate is $12 and 10 units of labor will be supplied if the wage rate is $14, then the marginal factor cost for the tenth unit of labor is

• A)less than $12.
• B)$12.
• C)between $12 and $14.
• D)more than $14.

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Definitions:

Accommodation

The process of adapting or adjusting to someone or something; in lodging, it refers to a place where people can live, stay, or work.

Corporate Social Responsibility

Ethical practices in business aimed at contributing positively to the society and environment, while considering the impacts of the company's operations on all stakeholders.

Instrumental Values

Core beliefs that dictate how we ought to behave or the means to achieve desired ends.

Rokeach Value Survey

A psychological tool used to assess individual's value systems and the importance of specific terminal and instrumental values.