Answer the Question on the Basis of the Data Contained

question 103

Multiple Choice

Answer the question on the basis of the data contained in the following table.Assume that the firm is hiring labor in a purely competitive market. $\begin{array}{ccc}\begin{array}{ccc}\begin{array}{c}\text { Units of } \\\text { Labor }\\\hline\end{array} && \begin{array}{c}\text { Total } \\\text { Product }\\\hline\end{array} \\0 & & 0 \\1 & & 15 \\2 & & 28 \\3 & & 39 \\4 & & 48 \\5 & & 55 \\6 & & 60\end{array}\begin{array}{c}Product\\Price\\\hline \$ 2.20\\ 2.00 \\ 1.80 \\ 1.60 \\1.40 \\ 1.20 \\ 1.10 \end{array}\end{array}$ Refer to the given data.If the wage rate is $11,how many workers will the firm choose to employ?

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Definitions:

Aggressive Growth

An investment strategy or business approach focusing on rapid expansion and high returns, often with higher risks.

Market Share

The percentage of total sales in a market captured by a particular company, product, or brand.

Direct Investment

A type of investment in which a company builds or buys businesses in a foreign country.

Foreign Subsidiary

A company owned or controlled by another corporation, person, or entity, based in a country different from the parent company.