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

Question

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

Quizplus · Accepted Answer

The Answer of 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

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