(Table: Value of the Marginal Product of Labor and Demand)

question 17

Multiple Choice

(Table: Value of the Marginal Product of Labor and Demand) In the figure Value of the Marginal Product of Labor and Demand, the total product of labor is shown for the hourly production of power cords.If the price of a power cord is $2 and the market wage rate is $20 per hour, the profit-maximizing quantity of labor is __ workers.

• A)two
• B)four
• C)six
• D)eight

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Definitions:

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