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barmour44 barmour44
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5 years ago
Table 17-4

Quantity of Labor OutputMPLPrice Total RevenueMRPLWage
0  0---$200$0---$500
1  66  180​​  500
2115  160​​  500
3154  140​​  500
4183  120​​  500
5202  100​​  500
6211    80​​  500
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?

• 2; $160

• 3; $340

• 2; $680

• 3; $140
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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MikaelDevostMikaelDevost
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5 years ago
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barmour44 Author
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I appreciate what you did here, answered it right Smiling Face with Open Mouth
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Just got PERFECT on my quiz
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