$\text { Table } 31.1$ Table 311 Shows the Number of Workers a Firm Is Willing

question 107

Multiple Choice

$\begin{array}{cc}\begin{array}{cc}\\\begin{array}{c}\text { Wage nate } \\\text { (dollars per hour) }\end{array} & \begin{array}{c}\text { Labor demanded } \\\text { (workers) }\end{array} \\\hline \$ 26 & 0 \\22 & 2 \\18 & 4 \\14 & 6 \\10 & 8\end{array}\begin{array}{cc}\text{Total labor}\\\text{cost-hourly}&\text{Marginal wage}\\\text{(dollars per hour) }&\text{(dollars per worker) }\\\hline-&....\\-&-\\-&-\\-&-\\-&-\end{array}\end{array}$
$\text { Table } 31.1$ Table 31.1 shows the number of workers a firm is willing to hire per hour at different wage rates.Complete the table by computing the total wage bill (total labor cost) and the marginal wage.Assume the union collects dues of 1 percent of the total wage bill.At what wage in Table 31.1 would the union maximize the amount of dues it collects?

• A) $10 per hour.
• B) $14 per hour.
• C) $18 per hour.
• D) $22 per hour.

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Definitions:

Self-Serving Bias

A cognitive bias that involves people attributing their successes to internal factors while blaming failures on external factors.

High Self-Esteem

A positive evaluation of oneself and feeling confident in one's own abilities or worth.

Spotlight Effect

Overestimating others' noticing and evaluating our appearance, performance, and blunders (as if we presume a spotlight shines on us).

External Locus

An external locus of control refers to the belief that outside forces, beyond an individual's control, significantly influence life events and outcomes.