Assume That a Firm Uses 13 Employee-Hours and an Office

question 108

Multiple Choice

Assume that a firm uses 13 employee-hours and an office to produce 100 units of output.The price of output is $5,the wage rate is $10,and rent is $200.The firm will earn a _____ of _____.

• A)profit;$370
• B)loss;$200
• C)profit;$170
• D)loss;$170

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Definitions:

Event Outcome

The result or consequence of a particular event, which can vary widely depending on the nature of the event and the perspectives of those involved.

Forecast

A prediction or estimate of future trends, events, or behaviors based on current data or patterns.

Synergies

The combined effect of a group or system that exceeds the sum of their individual effects, enhancing productivity or value.

Organizations

Groups of individuals working together towards common goals with a structured framework.