-Refer to the Above Table

question 131

Multiple Choice

-Refer to the above table. If the price of the product is $1.50, and the marginal factor cost of an additional unit of an input is $105, how many units of labor should be hired?

• A) 11
• B) 12
• C) 13
• D) 14

---

Definitions:

Residual Claim

The right of shareholders to claim assets remaining after all debts have been paid in the event of a company's liquidation.

Debts And Obligations

Amounts of money or services owed to others that represent claims against a company or individual's assets.

Liabilities

Financial obligations or debts that a company owes to others, which can include loans, accounts payable, mortgages, deferred revenues, and bonds payable.

Dividends Declared

Earnings designated by the board of directors of a corporation to be shared among its stockholders.