If the Units Produced by a Factory Decreased by 10

question 22

Multiple Choice

If the units produced by a factory decreased by 10% and the labor productivity increased by 25%,then the labor hours __________.

• A)decreased by 15%
• B)decreased by 26%
• C)decreased by 28%
• D)decreased by 35%

Understand the concept of perfect competition in input and output markets.

Calculate and analyze the average and marginal product of labor.

Interpret the effects of wage changes on consumer's choice between income and leisure.

Determine the marginal revenue product of labor.

---

Definitions:

Anal Stage

In psychoanalytic theory, the second stage of psychosexual development, occurring from about 18 months to three years of age, where the focus of pleasure is on controlling bladder and bowel movements.

Oedipal Stage

A phase in Freudian psychosexual development when a child feels a desire for the opposite-sex parent and jealousy towards the same-sex parent.

Freud

Sigmund Freud was an Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Inner Voice

The internal dialogue or stream of consciousness that reflects one's thoughts, beliefs, or internal monologue.