Use the Following to Answer Question

question 11

Multiple Choice

Use the following to answer question:
-(Table: Value of the Marginal Product of Labor and Demand) Use Table: Value of the Marginal Product of Labor and Demand.In the table,the total product of labor is shown for the hourly production of power cords.Assume that the market for power cords is perfectly competitive.If the price of a power cord is $4 and the market wage rate is $80 per hour,the profit-maximizing quantity of labor is _____ worker(s) .

• A)1
• B)3
• C)5

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Definitions:

Prestige Products

High-quality items that are regarded as status symbols, often marketed to appeal to consumers' desires for luxury and exclusivity.

Shopping Products

Products that consumers purchase less frequently and tend to compare on criteria such as quality, price, and style before making a decision.

Limited Distribution

A strategic choice by a company to offer its products or services at a select few outlets, often to maintain exclusivity or control over the brand image.

Marchesa Wedding Gown

A high-end bridal dress designed by the luxury fashion brand Marchesa, known for its elegant and elaborate designs.