Table 17-4 Table 17-4 Lists Data for the Production of Apple IPods

question 127

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 quantity of labor and marginal revenue product of labor that will maximize the profit Apple would earn from selling iPods?

• A)2; $160
• B)3; $340
• C)2; $680
• D)3; $140

---

Definitions:

Ethics

A branch of philosophy dealing with the principles of morality, defining what is good for individuals and society, and distinguishing right from wrong.

Opportunistic Theft

A crime motivated by the chance to steal without premeditation, due to the immediate availability of unguarded property.

Kickbacks

Payments made in return for a favor or service, often illicitly and in breach of trust.

Shakedowns

Informally, the act of obtaining money, goods, or services through force, fraud, or threats, typically in a corrupt or illegal manner.