Which of the following is not held constant along a firm \u02b9 s demand curve for

Which of the following is not held constant along a

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28) Which of the following isnotheld constant along a firmʹs demand curve for labor?A) the quantity of other inputs used by the firmB) the wage rateC) the price of the product produced by the firmD) changes in technologyAnswer: B28)Diff: 1Page Ref: 548/548Topic: The Demand for LaborLearning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factorsupply and labor in factor marketsAACSB: Reflective ThinkingTable 17-2Quantityof LaborOutputMPLPriceTotalRevenueMRPLWage00---$200$0---$5001661805002115160500315414050041831205005202100500621180500Table 17-2 lists data for the production of Apple iPods. Apple is assumed to be a price maker, so to increase its sales of iPodsthe firm must lower its price.MPLandMRPLrefer to the marginal product of labor and the marginal revenue product oflabor, respectively.29)Refer to Table 17-2.What are the price and quantity of workers that result in the maximumamount of revenue Apple would earn from selling iPods?29)Diff: 2Page Ref: 548-549/548-549Topic: The Demand for LaborLearning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factorsupply and labor in factor marketsAACSB: Analytic Skills30)Refer to Table 17-2.What are the price and quantity of workers that result in the maximumamount of profit Apple would earn from selling iPods?30)Diff: 3Page Ref: 548-549/548-549Topic: The Demand for LaborLearning Outcome: Micro 17: Explain the effects of the factors of production, factor demand, and factorsupply and labor in factor marketsAACSB: Analytic Skills9
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