-Refer to Table 12-4

question 220

Multiple Choice

-Refer to Table 12-4. What are the price and quantity of workers that result in the maximum amount of profit Apple would earn from selling iPods?

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

---

Definitions:

Inverse Supply

A concept in economics where the supply curve is expressed as a function of price rather than quantity supplied.

Tax

A compulsory financial charge or levy imposed by a government on individuals or entities to fund government spending and various public expenditures.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of the good supplied.

Vertical

Referring to the direction pointing up or down, perpendicular to the horizontal plane.