Table 10-4
Table 10-4 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 labour and the marginal revenue product of labour, respectively.
-Refer to Table 10-4.What are the quantity of labour and marginal revenue product of labour that will maximise the profit Apple would earn from selling iPods?
A) 2; $160
B) 3; $340
C) 2; $680
D) 3; $140

Question

Table 10-4
  Table 10-4 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 labour and the marginal revenue product of labour, respectively.
-Refer to Table 10-4.What are the quantity of labour and marginal revenue product of labour that will maximise 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 10-4
  Table 10-4 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 labour and the marginal revenue product of labour, respectively.
-Refer to Table 10-4.What are the quantity of labour and marginal revenue product of labour that will maximise the profit Apple would earn from selling iPods?
A) 2; $160 
B) 3; $340 
C) 2; $680 
D) 3; $140

Table 10-4 Table 10-4 Lists Data for the Production of Production