Table 162 Gives the Number of Oil Changes That Can Be

question 34

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,what is the marginal revenue of the third employee?

• A) $80.
• B) $360.
• C) $5.
• D) $40.

Identify how the need for affiliation and interpersonal relationships influences human behavior.

Understand the components of emotion and their significance.

Recognize how motivation influences and is influenced by emotional states.

Identify factors influencing achievement motivation and its effects on behavior.

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Definitions:

Oligopoly

An oligopoly is a market structure characterized by a small number of firms that control the majority of the market share, leading to limited competition. These firms may engage in competitive or cooperative behaviors.

Monopolistic Competition

A market structure where many firms sell products that are similar but not identical, allowing for some degree of market power and product differentiation.

Pure Monopoly

A market structure characterized by a single seller that produces a unique product or service with no close substitutes and high barriers to entry for potential competitors.

Demand Factors

Variables that influence the desire and ability of consumers to purchase goods or services, including income levels, tastes, and the price of related goods.