Table 124 Table 12

question 174

Multiple Choice

Table 12.4 Table 12.4 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.MP_L and MRP_L refer to the marginal product of labour and the marginal revenue product of labour, respectively.
-Refer to Table 12.4.The price and quantity of workers that result in the maximum amount of revenue Apple would earn from selling iPods are

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

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Definitions:

Legal Right

A defined entitlement protected by law that allows individuals to act in a certain way or requires others to act in relation to the holder.

Public Support

Refers to the backing or endorsement of policies, individuals, or causes by the general population.

Abortion

The termination of a pregnancy before the fetus can live independently, often invoked as a complex moral and legal issue.

Gay

A term that primarily refers to a homosexual person or the trait of being homosexual.