The First 3 Columns of the Following Table Show Data

question 111

Multiple Choice

The first 3 columns of the following table show data for a representative firm in an industry.The last 3 columns show the market demand and supply for the type of labour employed by this firm.

-Refer to the information above to answer this question.What is the firm's total wage bill if the firm maximizes its profits?

• A)$30.
• B)$64.
• C)$120.
• D)$154.
• E)$192.

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Definitions:

Management by Exception

A management strategy where managers only intervene in decision making when performance deviates significantly from standards, allowing more focus on important issues.

Controllable

Refers to costs or elements within a business that can be directly managed, influenced, or altered by decisions of management.

Noncontrollable

Refers to expenses or influences that cannot be altered or changed by the management due to external constraints or fixed contract terms.

Flexible Budget

A budget that adjusts or varies with changes in the volume or activity level of a company.