The Following Table Shows the Total Output Per Hour Produced

question 16

Multiple Choice

The following table shows the total output per hour produced in a factory at various levels of employment of labor. The firm sells each unit of output at $2 and each worker is paid a wage of $12.
Table 5-1
$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Nurnber of } \\\text { workers }\end{array} & \text { Total output } \\\hline 1 & 8 \\\hline 2 & 18 \\\hline 3 & 30 \\\hline 4 & 41 \\\hline 5 & 50 \\\hline 6 & 55 \\\hline 7 & 59 \\\hline 8 & 61 \\\hline 9 & 62 \\\hline\end{array}$
-Refer to Table 5-1. What is the total revenue that accrues to the firm when it employs 4 workers?

• A) $36
• B) $112
• C) $100
• D) $60
• E) $82

Define group cohesiveness and identify factors influencing it.

Recognize the impact of cohesiveness on group productivity.

Understand the concept of process loss and its examples.

Describe principles and effectiveness of self-managed work teams.

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Definitions:

Demand Function

A mathematical expression showing the relationship between the quantity demanded of a good and its price, along with other determinants like income and prices of related goods.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, leading consumers to substitute one good for another.

Income

The money received by an individual or entity, typically measured over a certain period, for labor, services, or through investments.

Claret

A term primarily used in British English to refer to red Bordeaux wine.