Solved

Table 16-4 Lists Data for the Production of Apple IPods

Question 21

Multiple Choice

Table 16-4 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 16-4. 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
Table 16-4 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 16-4. 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

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q16:
Figure</p></div><svg width=

Q17:
Figure</p></div><svg width=

Q18: Hotspur Incorporated,</p></div><svg width=

Q19: Hotspur Incorporated,</p></div><svg width=

Q20: Hotspur Incorporated,</p></div><svg width=

Q22: Table 16-4</p></div><svg width=

Q23: Table 16-4</p></div><svg width=

Q24:
-Refer to</p></div><svg width=

Q25: -Refer to Table</p></div><svg width=

Q26: The combined effect (both income and substitution)

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents