Table 17-4 Table 17-4 Lists Data for the Production of Apple IPods

question 86

Multiple Choice

Table 17-4

Table 17-4 lists data for the production of Apple iPods. Apple is assumed to be a price maker, so to increase its sales of iPods the firm must lower its price. MPL and MRPL refer to the marginal product of labor and the marginal revenue product of labor, respectively.
-Refer to Table 17-4.What are the price and quantity of workers that result in the maximum amount of revenue Apple would earn from selling iPods?

• A)$180; 1
• B)$140; 2
• C)$120; 2
• D)$120; 4

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Definitions:

Telephone Keypad

An assembly of push-buttons on a telephone, each button representing a set of letters and numbers, used for dialing and typing.

Alphabetically Sequenced Letters

An ordered arrangement of letters based on the conventional sequence of the alphabet.

Encoding Failure

A situation in which the brain fails to create a memory link for information, making it difficult to remember at a later time.

Seconds

Units of time that are equal to one sixtieth of a minute.