Table 10-1 -Refer to Table 10-1.Suppose the Output Price Is $3.If the Price

question 154

Multiple Choice

Table 10-1

-Refer to Table 10-1.Suppose the output price is $3.If the firm represented in the table is maximising its profit by hiring six workers,what is the wage rate?

• A) $120
• B) $65
• C) $40
• D) There is insufficient information to answer the question.

---

Definitions:

Straight Commission Plan

A compensation structure where an employee's earnings are derived entirely from commissions made from the sales they generate.

Percentage Commission

A method of compensation where an employee or agent is paid a percentage of the sales they generate or the deals they close.

Intrinsic Rewards

The personal satisfaction and enjoyment derived from completing a task or achieving a goal, independent of external rewards or recognition.

Extrinsic Rewards

Rewards given to employees that are external to the job itself, such as pay, benefits, bonuses, and promotions, aimed at motivating employees' performance.