Use the Following to Answer Questions

question 219

Multiple Choice

Use the following to answer questions:
-(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. Assume that the market for power cords is perfectly competitive. If the price of a power cord is $2 and the market wage rate is $60 per hour, the profit-maximizing quantity of labor is _____ workers.

• A) zero
• B) two
• C) four
• D) six

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Definitions:

Relationships

Refers to the connection and associations between individuals or groups, based on interactions, feelings, or common interests.

Adults

Individuals who have reached the age where they are considered to be fully developed physically and mentally, and are legally responsible for their actions.

Sub-Par

Below an expected or standard level of quality or performance.

Excuses

Reasons or explanations put forward to defend or justify a fault or offense, often made to avoid taking responsibility.