Table 17-4 Table 17-4 Lists Data for the Production of Apple IPods

question 86

Multiple Choice

Table 17-4

Table 17-4 lists data for the production of Apple iPods. Apple is assumed to be a price maker, so to increase its sales of iPods the firm must lower its price. MPL and MRPL refer to the marginal product of labor and the marginal revenue product of labor, respectively.
-Refer to Table 17-4.What are the price and quantity of workers that result in the maximum amount of revenue Apple would earn from selling iPods?

• A)$180; 1
• B)$140; 2
• C)$120; 2
• D)$120; 4

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Definitions:

Saltatory Conduction

The process by which nerve impulses jump between the nodes of Ranvier in myelinated neurons, speeding up signal transmission.

Node of Ranvier

Gaps in the myelin sheath of nerve fibers where the axonal membrane is exposed to the extracellular space, facilitating rapid signal transmission.

Action Potential

A rapid rise and subsequent fall in membrane potential across a cellular membrane, crucial for the propagation of electrical signals in nerve and muscle cells.

Local Potentials

Electrical changes in neurons that are confined to a small region, serving as the initial response to stimuli, potentially leading to action potentials.