Table 162 Gives the Number of Oil Changes That Can Be

question 52

Multiple Choice

$$\begin{array}{l}\begin{array} { | c | c | } \hline \text { Number of Employees } & \text { Total Output } \\\hline 1 & 6 \\\hline 2 & 11 \\\hline 3 & 15 \\\hline 4 & 18 \\\hline 5 & 20 \\\hline\end{array}\\\text { Table } 16.2\end{array}$$ Table 16.2 gives the number of oil changes that can be performed at a local oil change business based on the number of employees hired.If the price of an oil change is $20,and workers get paid $90 per day,which of the following is equal to 3?

• A) The marginal revenue of the third employee.
• B) The optimal number of employees to hire.
• C) The marginal product of the fourth employee.
• D) The marginal cost of the first oil change.

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Definitions:

Payables Risk Analysis

The assessment of the risks associated with failing to meet the company’s obligations on time, affecting its creditworthiness.

Receipts Assessment

This involves evaluating and analyzing the receipts of a business to determine its financial health and performance.

Restocking Costs

Expenses associated with replenishing inventory or stock levels in a business, including purchasing, shipping, and handling costs.

Carrying Costs

The aggregate amount spent on inventory upkeep, which covers costs related to storage, insurance premiums, and tax payments.