Table 17-2 Table 17-2 Lists Data for the Production of Production

question 3

Multiple Choice

Table 17-2
Table 17-2 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 17-2.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:

Social Value

The importance or beneficial impact of an action, policy, or practice on the well-being and functioning of a society or community.

Human Health

The state of physical, mental, and social well-being in individuals, not merely the absence of disease or infirmity.

Anthropogenic

Originating in human activity, commonly used in the context of environmental science to describe effects or processes that result from human influence on the natural world.