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Author Question: The statement: If everyone trades in the competitive marketplace, all mutually beneficial trades ... (Read 431 times)

Jramos095

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on: Jul 1, 2018
The statement: If everyone trades in the competitive marketplace, all mutually beneficial trades will be completed, and the resulting equilibrium allocation of resources will be economically efficient. is formally known as:
 
  A) the law of supply and demand.
  B) the first theorem of supply and demand.
  C) the first theorem of welfare economics.
  D) the first theorem of efficiency in economics.

Question 2

Use the data in the table below to answer the following questions about a firm.
 
  Units of Units of Total Marginal Output
   Input X Input Y Product Product of X Price
 
   0 25 0 10
   1 25 2 10
   2 25 7 10
   3 25 14 10
   4 25 20 10
   5 25 23 10
   6 25 24 10
 
  a. Complete the table by calculating the marginal product of input X.
  b. Compute the marginal revenue produce of input X.
  c. If the price of input X were 30 per unit, how many units should the firm use per unit of time to maximize profit? Explain why profit is maximized.
Statistics, Data Analysis, and Decision Modeling ¦ Evans ¦ 5th Edition
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lkoler

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Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Harps johnston

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Reply #2 on: Jul 25, 2022
thank you


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