A Mechanic Is Paid $13 $$W ( h ) = \left\{ \begin{array} { l l } 13 h & 0 < h \leq 40 \\21 ( h - 40 ) + 520 & h > 40\end{array} \right.$$

question 33

Multiple Choice

A mechanic is paid $13.00 per hour for regular time and time-and-a-half for overtime.The weekly wage function is given by? $$W ( h ) = \left\{ \begin{array} { l l } 13 h & 0 < h \leq 40 \\21 ( h - 40 ) + 520 & h > 40\end{array} \right.$$ ? where h is the number of hours worked in a week.
?
Evaluate W(30) ,W(50) .
?

• A)?W(30)= 410,W(50)= 750
• B)?W(30)= 430,W(50)= 770
• C)?W(30)= 400,W(50)= 740
• D)?W(30)= 390,W(50)= 730
• E)?W(30)= 420,W(50)= 760

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Definitions:

Allocative Efficiency

A state of the market where resources are allocated in a way that maximizes the overall benefit to society, where the price of a good equals the marginal cost of production.

Monopoly Behavior

The actions of a firm that is the sole provider of a good or service, often involving price setting and market control.

Monopoly Structure

A market structure characterized by a single seller that controls the whole industry, leading to a lack of competition and high prices for consumers.

Relevant Market

The market in which a particular product or service is sold, considering the competition and the demand of consumers.