Solved

(Table: Value of the Marginal Product of Labor and Demand)

Question 63

Multiple Choice

(Table: Value of the Marginal Product of Labor and Demand) In the figure Value of the Marginal Product of Labor and Demand, the total product of labor is shown for the hourly production of power cords.If the price of a power cord is $4 and the wage rate is $160 per hour, the profit- maximizing quantity of labor is worker(s) .


A) zero
B) one
C) three
D) five

Correct Answer:

verifed

Verified

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

Related Questions