This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The statement: If everyone trades in the competitive marketplace, all mutually beneficial trades ... (Read 414 times)

Jramos095

  • Hero Member
  • *****
  • Posts: 528
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lkoler

  • Sr. Member
  • ****
  • Posts: 358
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.
Answer Preview
Only 29% of students answer this correctly


Harps johnston

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Jul 25, 2022
thank you


« previous next »
 

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

competitive inhibition competitive inhibition
Example of a patient statement. Example of a patient statement.
Example of Reconciling a Bank Statement Example of Reconciling a Bank Statement
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ... A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ...
Video: Major Elements in Biological Molecules: Nucleic acids

For a complete list of videos, visit our video library