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

question 239

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 wage rate is $90 per hour, the profit- maximizing quantity of labor is workers.

• A)zero
• B)two
• C)four
• D)six

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Definitions:

Public Sector

The part of the economy that involves government agencies and departments and the provision of public services.

Indirect Pay

Compensation that is not paid directly as cash to employees but includes benefits and services such as health insurance, pensions, and paid time off.

Compensation Consultants

Specialists who advise organizations on their compensation strategies, including pay structures, benefits packages, and compliance with relevant laws and regulations.

Labour Market

The supply and demand for labor, where employers seek to hire workers and workers look for jobs, often analyzed regionally or nationally.