The Following Table Illustrates Alternative Production Techniques for Producing 18

question 82

Multiple Choice

The following table illustrates alternative production techniques for producing 18 widgets that can be sold for $1 each for a total revenue of $18. Refer to the above table. At the $3 price for labor the most efficient technique will result in an:

• A) Economic loss of $2
• B) Economic profit of $l
• C) Economic profit of $2
• D) Economic profit of $3

---

Definitions:

Regret

A feeling of sadness, repentance, or disappointment over something that has happened or been done.

Blascovich and Colleagues

Refers to Jim Blascovich and his research team, known for their work in social neuroscience, including studies on social stress and biopsychosocial models of challenge and threat.

Social Facilitation

The tendency for people to perform differently when in the presence of others compared to when alone, often improving on simple tasks or tasks at which they are skilled.

Challenge

A situation, task, or problem that requires a person to use their skills, knowledge, or resources to overcome it.