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

Understand and apply proper rounding techniques.

Compare and order numbers, including fractions, decimals, and mixed numbers.

Understand and apply the concepts of square and square roots.

Convert improper fractions to mixed numbers and vice versa.

---

Definitions:

Regulatory Capture

The situation that occurs when a governmental regulatory agency ends up being controlled by the industry that it is supposed to be regulating.

Automobile Safety

Measures and standards implemented to ensure the safety of vehicles and protect passengers and pedestrians from accidents and injuries.

Fuel Requirements

Specifications or standards that determine the type and quality of fuel necessary for a particular vehicle, engine, or system to operate efficiently.

Limited and Bundled Choices

This term refers to a marketing and sales strategy where consumers are offered packages or bundles of goods or services with few alternatives, limiting their choices to predetermined sets.