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

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Definitions:

Independent Variables

Variables in an experiment or model that are manipulated or changed to observe their effect on dependent variables.

Total Variation

The overall measure of the spread or dispersion of a set of data points.

Degrees of Freedom

In statistical analysis, it refers to the number of independent values or quantities which can be assigned to a statistical distribution.

Coefficient of Determination

A statistic that indicates the proportion of the variance in the dependent variable that is predictable from the independent variables.