Table 142 -Refer to Table 14

question 14

Multiple Choice

Table 14.2
$\begin{array}{|c|c|c|c|c|}\hline \begin{array}{c}\text { Quantity of } \\\text { labour }\end{array} & \begin{array}{c}\text { Output of iPods per } \\\text { Week }\end{array} & \begin{array}{c}\text { Marginal Product of } \\\text { labour }\end{array} & \begin{array}{c}\text { Product Price } \\\text { (dollars) }\end{array} & \begin{array}{c}\text { Wage } \\\text { (dollars) }\end{array} \\\hline 1 & 8 & 8 & \$ 300 & \$ 350 \\\hline 2 & 15 & 7 & 280 & 350 \\\hline 3 & 21 & 6 & 260 & 350 \\\hline 4 & 26 & 5 & 240 & 350 \\\hline 5 & 30 & 4 & 220 & 350 \\\hline 6 & 33 & 3 & 200 & 350 \\\hline 7 & 35 & 2 & 180 & 350 \\\hline\end{array}$
-Refer to Table 14.2.What is the profit-maximizing quantity of labour that the firm should hire?

• A)5 units
• B)4 units
• C)3 units
• D)2 units

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Definitions:

Self-defeating

Refers to actions or policies that undermine their own goals or purposes.

Psychological Egoism

A theory suggesting that all human actions are motivated by self-interest, even in what seem to be acts of altruism.

Egotistical

Pertaining to or characterized by excessive self-absorption, often considering oneself superior to others.

Motives

The underlying reasons or incentives that drive a person to act in a particular way or pursue certain goals.