Use the Following Information to Answer the Questions That Follow

question 75

Multiple Choice

Use the following information to answer the questions that follow.
Nicky L, owner of NLD Incorporated, knows that the marginal product of labor (MPL) for his workers can be defined as follows:
MPL = 32 - L
The total output a given level of workers can produce is found as:
Q = 32L - L²
He also knows that the price of his output is $3. His profits can be found as:
Profit = P × Q - W × L
-What wage would be required to allow Nicky L to hire the twenty-fifth worker?

• A) $3
• B) $7
• C) $21
• D) $125
• E) $25

---

Definitions:

Depressed

A state of low mood and aversion to activity that affects a person's thoughts, behaviors, feelings, and overall sense of well-being.

Anxious

Feeling anxious, restless, or apprehensive, usually over an upcoming event or something that has an unknown result.

Overly Indulged

Characterizes individuals or actions that have received excessive or uncontrolled amounts of attention, resources, or leniency.

Parental Valuation

The perceived value or importance that parents place on their children, which can influence the children’s development, self-esteem, and well-being.