-In the Above Table, What Is the Marginal Factor Cost

question 62

Multiple Choice

-In the above table, what is the marginal factor cost of the 4th worker?

• A) $16
• B) $30
• C) $64
• D) $22

Interpret and evaluate the effects of public policies and reforms on poverty and welfare.

Identify societal attitudes towards poverty and government responsibility in its alleviation.

Analyze the sociological and structural causes of inequality and its perpetuation in society.

Understand the role of technology and access to resources in creating societal divisions.

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Definitions:

Equilibrium

Equilibrium refers to a state of balance or stability within a system, where competing forces or influences are in equal opposition.

Goal-Oriented

Focused on setting and achieving specific objectives or targets, often within a defined timeline or set of conditions.

Drive Theory

A psychological theory that attributes motivation to be the result of biological or physiological needs that drive behavior towards satisfying those needs.

Expectancy Theory

A motivation theory that explains how individuals choose behaviors, predicting that people will choose the behavior that entails the most desirable outcomes to them.