Refer to Table 17-4. What are the quantity of labor and marginal ...

[RODY.ELKHALIL]

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; 680 B) 2; 160 C) 3; 140 D) 3; 340

Question 2

Consumers in monopolistically competitive markets face a trade-off between paying prices greater than marginal costs and purchasing products that are more closely suited to their tastes.
 
  Indicate whether the statement is true or false

[asware1]

Answer to Question 1

A

Answer to Question 2

TRUE