A Firm's Resource Input, Total Output of Labor, and Product

question 155

Multiple Choice

A firm's resource input, total output of labor, and product price schedules are given in the table. If labor is the only variable input, how much labor should the firm employ if the wage rate is $15 per day? $\begin{array} { | c | c | c| } \hline\text { Urits of Lab or } &\text { Total } &\text { Price of Good }\\&\text { Output/Day }& ( \$ ) \\\hline 2 & 20 & \$ 10 \\\hline 3 & 30 & 9 \\\hline 4 & 38 & 8 \\\hline 5 & 46 & 7 \\\hline 6 & 54 & 6 \\\hline 7 & 62 & 5 \\\hline\end{array}$

• A) 3 units
• B) 4 units
• C) 6 units
• D) 5 units

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Definitions:

Abdominopelvic Cavity

The combined cavity within the abdominal and pelvic area that houses the majority of the organs of the digestive, excretory, and reproductive systems.

Directional Terms

Terms used to describe the locations of structures or movements of the body in relation to other structures or locations.

Lateral

Relating to, situated at, or extending toward the side; away from the midline of the body.

Parietal Peritoneum

The part of the peritoneum that lines the abdominal and pelvic walls, as opposed to the visceral peritoneum which covers internal organs.