Table 124 Table 12

question 30

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 profit Apple would earn from selling iPods are

• A)$140; 2
• B)$160; 2
• C)$140; 3
• D)$180; 1

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Definitions:

Abstract

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Research Paper

An in-depth, structured exploration of a topic that presents analysis, interpretation, or argument based on extensive independent research.

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The process of gaining insights into the demographics, preferences, and behaviors of the intended audience for a product, service, or message.