Answer the Following Questions Using the Information Below

question 5

Multiple Choice

Answer the following questions using the information below:
For Echuca Company,labour-hours are 50 000 and wages $188 000 at the high point of the relevant range,and labour-hours are 30 000 and wages $140 000 at the low point of the relevant range.
-What is the slope coefficient per labour-hour?

• A)$3.76
• B)$0.42
• C)$2.40
• D)$4.67

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Definitions:

Crackers

A dry, thin baked food typically made from flour and seasoned.

Utility-maximizing

A principle in economics where consumers aim to get the greatest satisfaction from their spending, given their budget constraint.

Goods

Tangible items that are produced and are capable of being physically delivered to a consumer.

Px(MUx)

This expression denotes the price of a good (Px) multiplied by its marginal utility (MUx), commonly used in economic analysis of consumer choice.