Table 12.4 Table 12.4 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.MP L and MRP L refer to the marginal product of labour and the marginal revenue product of labour, respectively.
-Refer to Table 12.4.The quantity of labour and marginal revenue product of labour that will maximise the profit Apple would earn from selling iPods are
A)2; $160
B)3; $340
C)2; $680
D)3; $140

Question

Table 12.4  Table 12.4 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.MP L and MRP L refer to the marginal product of labour and the marginal revenue product of labour, respectively.
-Refer to Table 12.4.The quantity of labour and marginal revenue product of labour that will maximise the profit Apple would earn from selling iPods are
A)2; $160 
B)3; $340 
C)2; $680 
D)3; $140

Quizplus · Accepted Answer

The Answer of Table 12.4  Table 12.4 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.MP L and MRP L refer to the marginal product of labour and the marginal revenue product of labour, respectively.
-Refer to Table 12.4.The quantity of labour and marginal revenue product of labour that will maximise the profit Apple would earn from selling iPods are
A)2; $160 
B)3; $340 
C)2; $680 
D)3; $140

Table 124 Table 12