Use the Resource Demand Data Shown on the Left and the Resource

question 76

Multiple Choice

Use the resource demand data shown on the left and the resource supply data on the right in answering the following question: $\begin{array}{c}\underline{\text { Labor Demand Data }}\quad\quad\quad\quad\quad\quad\quad\quad\underline{\text { Labor Supply Data }}\\\begin{array}{c}\\\underline{\text {Employment}}\\0\\1\\2\\3\\4\\5\\6\end{array}\begin{array}{c}\text {Marginal}\\\underline{\text {Product}}\\0\\15\\28\\39\\48\\55\\60\end{array}\begin{array}{c}\text { Product }\\\underline{\text { Price } }\\\$ 2.20 \\2.00 \\1.80 \\1.60 \\1.40 \\1.20 \\1.00 \end{array}\begin{array}{c}\\\underline{\text {Employment}}\\0\\1\\2\\3\\4\\5\\6 \end{array}\begin{array}{c}\text { Wage}\\\underline{\text { Rate }} \\-- \\\$1.00 \\2.00\\3.00 \\4.00 \\5.00 \\6.00\end{array}\end{array}$
Refer to the given data.What will be the profit-maximizing wage rate?

• A) $6.
• B) $5.
• C) $4.
• D) $3.

---

Definitions:

Behavior Change

A process or method to alter or improve individual or collective habits, actions, or patterns.

Poverty Rate

The percentage of the population living below the national poverty line, measuring the proportion of people with income less than what is needed for basic living standards.

Elderly

The term elderly refers to individuals who are significantly beyond the average age of retirement, often considered to be ages 65 and older.

General Population

The total group of individuals from which any sample might be drawn, often referring to the entirety of a country's inhabitants.