Use the Following to Answer Questions $\text {Table: Value of the Marginal}$

question 52

Multiple Choice

Use the following to answer questions : $\text {Table: Value of the Marginal}$
$\text {Product of Labour at Demand}$

$\begin{array} { cc}\hline \text {Quantity of Labour}&\text {Total Product}\\ \hline 0 & 0 \\ 1 & 20 \\ 2 & 50 \\ 3 & 90 \\ 4 & 120 \\ 5 & 140 \\ 6 & 150 \\ 7 & 150 \\ 8 & 140 \\\hline\end{array}$
-(Table: Value of the Marginal Product of Labour and Demand) Use Table: Value of the Marginal Product of Labour and Demand.In the table,the total product of labour 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 $20 per hour,the profit-maximizing quantity of labour is _____ workers.

• A) 2
• B) 4
• C) 6
• D) 8

---

Definitions:

Carpet Installation

The process of fitting and securing a carpet to the floor of a building or room.

Home Finance

involves the process of providing loans or other financial products to individuals to purchase, build, renovate, or refinance residential properties.

Breach Of Contract

A situation in which one party fails to fulfill the terms of a contract, leading to legal consequences for the breaching party.

Legal Action

A formal process in which a legal proceeding is initiated to enforce a particular right, seek a remedy for a breach, or obtain a legal ruling.