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Figure: Piece Rates
-(Figure: Piece Rates) Refer to the figure. A piece rate is offered for every 10 bags of wheat that workers fill. Which of the three piece rates plotted in the figure above has the lowest dollar value to the firm?

Question

Use the following to answer questions:
Figure: Piece Rates

-(Figure: Piece Rates) Refer to the figure. A piece rate is offered for every 10 bags of wheat that workers fill. Which of the three piece rates plotted in the figure above has the lowest dollar value to the firm?

Quizplus · Accepted Answer

The lowest dollar value to the firm is when the piece rate is the lowest. In this case, the P₁ piece rate has the lowest value as it offers the lowest payment per bag filled. Therefore, the answer is A.

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