Use the Following to Answer Questions

question 219

Multiple Choice

Use the following to answer questions:
-(Table: Value of the Marginal Product of Labor and Demand) In the figure Value of the Marginal Product of Labor and Demand, the total product of labor is shown for the hourly production of power cords. Assume that the market for power cords is perfectly competitive. If the price of a power cord is $2 and the market wage rate is $60 per hour, the profit-maximizing quantity of labor is _____ workers.

• A) zero
• B) two
• C) four
• D) six

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Definitions:

Metabolize

The chemical process by which the body breaks down substances to provide energy or use them in growth and repair of tissues.

Genotype

describes the genetic makeup of an organism in terms of the alleles it carries for a particular trait, which can influence its phenotype or outward appearance.

Specific Genes

Particular segments of DNA that are responsible for the inheritance of distinct traits.

Organism

An individual living entity that can act, react, interact with, and adapt to its environment, whether a bacterium, fungus, plant, animal, or human.