Table 103 Hotspur Incorporated, a Manufacturer of Microwave Ovens, Is a Price

question 174

Multiple Choice

Table 10.3
$$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { Workers }\end{array} & \begin{array} { c } \text { Output of Microwave } \\\text { Ovens per Week }\end{array} \\\hline 1 & 30 \\\hline 2 & 55 \\\hline 3 & 75 \\\hline 4 & 90 \\\hline 5 & 100 \\\hline 6 & 105 \\\hline\end{array}$$ Hotspur Incorporated, a manufacturer of microwave ovens, is a price taker in its input and output markets. The firm hires labour at a constant wage rate of $800 per week and sells microwave ovens at a constant price of $80. Table 10.3 shows the relationship between the quantity of labour it hires and the quantity of microwave ovens it produces.
-Refer to Table 10.3.Hotspur's profit-maximising quantity of labour is _________.

• A)2 workers
• B) 3 workers
• C) 5 workers
• D) 6 workers

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Definitions:

Humanistic

A psychological perspective that emphasizes the study of the whole person, looking at human behavior not only through the eyes of the observer but also through the eyes of the person doing the behaving.

Adler

Alfred Adler was an Austrian medical doctor and psychotherapist who founded the school of individual psychology, emphasizing the importance of social context in personality development.

Social Strivings

Efforts made by individuals to achieve status, acceptance, or fulfillment within their social communities.

Sensing

The process of receiving information through sensory organs and translating it into neural signals for the brain to interpret.