Use the Following to Answer Questions -(Table: Production of Cabinets)Use Table: the Production of Cabinets

question 356

Multiple Choice

Use the following to answer questions : $$\begin{array}{l}\text { Table: Production of Cabinets }\\\begin{array} { l c c } \begin{array} { l } \text { Quantity } \\\text { of Labour } \\\text { (workers) }\end{array} & \begin{array} { c } \text { Quantity of } \\\text { Cabinets } \boldsymbol { q }\end{array} & \begin{array} { c } \text { Marginal Product } \\\text { of Labour } \\\text { (units per period) }\end{array} \\\hline 0 & 0 & \\1 & 5 & 5 \\2 & 11 & 6 \\3 & 16 & 5 \\4 & 20 & 4 \\5 & 23 & 3 \\6 & 25 & 2 \\7 & 26 & 1 \\8 & 25 & - 1\end{array}\end{array}$$
-(Table: Production of Cabinets) Use Table: The Production of Cabinets.If each cabinetmaker could be hired at no cost,how many workers would your firm employ?

• A) two
• B) six
• C) seven
• D) eight

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Definitions:

Capital Stock

The total amount of physical and financial assets owned by a company or country, including machinery, buildings, and investments.

Inventory Investment

Investment in stockpile that companies hold to manage production and sales flow, impacting the overall business operations and financial health.

Limited Partnership

A Limited Partnership is a form of partnership in which some partners contribute capital and enjoy a share of the profit but are not liable for the debts of the partnership beyond the amount they contributed.

Capitalization

The total market value of all of a company's outstanding shares, calculated by multiplying the share price by the total number of shares.