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

Author Question: In the short run, why does a production function eventually display diminishing returns to labor? ... (Read 108 times)

dmcintosh

  • Hero Member
  • *****
  • Posts: 517
on: Jun 29, 2018
In the short run, why does a production function eventually display diminishing returns to labor?
 
  A) As a firm hires more workers the skills and the work ethic of the additional workers will eventually decline.
  B) The opportunity cost of hiring additional workers must eventually rise.
  C) As the number of workers increases eventually the gains from the division of labor and specialization are used up.
  D) As the number of workers increases it becomes difficult to monitor them.

Question 2

A monopolistically competitive firm is producing an output level where marginal revenue is greater than marginal cost. What should this firm do to increase its profit or reduce its losses?
 
  A) The firm should increase its implicit costs. B) The firm should lower its price.
  C) The firm should decrease its fixed costs. D) The firm should raise its price.
InMicro ¦ Hubbard, O'Brien ¦ 1st 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

HandsomeMarc

  • Sr. Member
  • ****
  • Posts: 360
Reply #1 on: Jun 29, 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 56% of students answer this correctly


dmcintosh

  • Member
  • Posts: 517
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

sultana.d

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

How to transform the natural exponential function (e^x) How to transform the natural exponential function (e^x)
Cereal production in Africa may decrease by as much as 50% by 2080 in some areas Cereal production in Africa may decrease by as much as 50% by 2080 in some areas
Testing motor function of cranial nerve VII - Close both eyes Testing motor function of cranial nerve VII - Close both eyes
Periodic Function Modelled Periodic Function Modelled
computer short cuts computer short cuts
Nonshivering heat production Nonshivering heat production
Video: Energy inputs and release in glycolysis Animation

For a complete list of videos, visit our video library