Table 115 -Refer to Table 11

question 31

Multiple Choice

Table 11.5
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Units of } \\\text { Variable } \\\text { Resource }\end{array} & \begin{array} { c } \text { Total } \\\text { Product }\end{array} & \begin{array} { c } \text { Product } \\\text { Price } ( \$ ) \end{array} \\\hline 0 & 0 & 22 \\\hline 1 & 15 & 20 \\\hline 2 & 29 & 18 \\\hline 3 & 42 & 16 \\\hline 4 & 54 & 14 \\\hline 5 & 65 & 12 \\\hline 6 & 75 & 10 \\\hline 7 & 84 & 8 \\\hline 8 & 92 & 6 \\\hline 9 & 99 & 4 \\\hline 10 & 105 & 2 \\\hline\end{array}$$
-Refer to Table 11.5,which shows data for a firm.The first column shows the number of variable resource employed in production,the second column shows the total product of the firm,and the third column shows its product price.If the firm decides to hire nine units of the resource,the market price paid to a resource is _____

• A)$98.
• B)$4.
• C)$396.
• D)$156.
• E)$400.

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Definitions:

Demand

The amount of a product or service that buyers are ready and capable of buying at different price levels over a specific time frame.

Identical Amounts

Equal quantities or volumes of a particular item or variable.

Capital

Financial assets or the financial value of assets, such as cash, properties, and machinery, used in a business to generate wealth.