Your Wage Is $11 $y = \frac { x - 11 } { 0.50 }$

question 45

Multiple Choice

Your wage is $11.00 per hour plus $0.50 for each unit produced per hour.So,your hourly wage in terms of the number of units produced x is y = 11 + 0.50x.Find the inverse function.What does each variable represent in the inverse function? ?

• A) \(y = \frac { x - 11 } { 0.50 }\) x = hourly wage;y = numbers of units produced
• B)y = 11 + 0.50x x = hourly wage;y = numbers of units produced
• ?
• C) \[y = \frac { x + 11 } { 0.50 }\] x = hourly wage;y = numbers of units produced
• ?
• D) \(y = \frac { 11 - x } { 0.50 }\) x = hourly wage;y = numbers of units produced
• ?
• E)y = 11 - 0.50x x = hourly wage;y = numbers of units produced
• ?

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Definitions:

Efficiency

The optimal production and distribution of resources in a way that maximizes the net benefit to society or an economy.

Total Surplus

A measure of society's overall net advantage resulting from the consumption and production of a good or service, comprised of both consumer and producer surplus.

Fire Marshal

An official responsible for enforcing fire safety codes and regulations, as well as investigating fires to determine their cause.

Total Surplus

In economics, the total net gain to society from trading in a market, equal to the sum of consumer and producer surplus.