Use the Following to Answer Questions $\text {Table: Value of the Marginal}$

question 124

Multiple Choice

Use the following to answer questions : $\text {Table: Value of the Marginal}$
$\text {Product of Labour at Demand}$

$\begin{array} { cc}\hline \text {Quantity of Labour}&\text {Total Product}\\ \hline 0 & 0 \\ 1 & 20 \\ 2 & 50 \\ 3 & 90 \\ 4 & 120 \\ 5 & 140 \\ 6 & 150 \\ 7 & 150 \\ 8 & 140 \\\hline\end{array}$
-(Table: Value of the Marginal Product of Labour and Demand) Use Table: Value of the Marginal Product of Labour and Demand.In the table,the total product of labour is shown for the hourly production of power cords.Assume that the market for power cords is perfectly competitive.The price of a power cord is $2,the market wage rate is $20 per hour,and 8 workers are hired.Profit can be maximized by hiring _____ worker(s) .

• A) 1 more
• B) 2 more
• C) 1 fewer
• D) 2 fewer

Recognize the impact of government regulations and environmental factors on HR strategy.

Understand how external factors such as technology, the labor force, and legislation affect organizational strategies and HR practices.

Identify key factors that determine the availability of labor in the workforce.

Understand union objectives and the key issues they aim to resolve.

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Definitions:

Kinetic Energy

The energy possessed by an object due to its motion, calculated as one half the mass times the velocity squared.

Reaction Sites

Specific regions on a molecule where a chemical reaction occurs or is facilitated.

Particle Orientation

The specific alignment or direction of particles' axes relative to each other or to external fields, influencing their reactions and properties.

Kinetic Energy

The energy that an object possesses due to its motion, calculated as half the mass times the velocity squared.