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:

Expectations

Beliefs or forecasts about future events, which can significantly influence current behavior and decision-making processes.

Desirable Behaviour

Actions or conduct that are considered advantageous, beneficial, or appropriate according to societal, organizational, or personal standards.

Law of Contingent Reinforcement

This law states that the effectiveness of a reward or punishment in influencing future behavior is contingent upon the behavior being directly linked to the reward or punishment.

Desired Behaviour

The specific actions or reactions that are sought after in a particular context, often influenced by goals or expectations.