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

Author Question: In an unregulated competitive market, the presence of marginal external benefit from a good or ... (Read 97 times)

vicotolentino

  • Hero Member
  • *****
  • Posts: 552
on: Jun 29, 2018
In an unregulated competitive market, the presence of marginal external benefit from a good or service results in overproduction.
 
  Indicate whether the statement is true or false

Question 2

Assume that for whatever reason there is a manufacturing firm exhibits a constant marginal product of labor over a certain range of production.
 
  Armed with only this information what would you be able to say about the average product and total product of labor curves of this firm.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Viet Thy

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 29, 2018
Answer to Question 1

FALSE

Answer to Question 2

The marginal product curve and the average product curve would be one and the same and would have a horizontal shape of the relevant production range. The total product function would be an upward-sloping linear function.


vicotolentino

  • Member
  • Posts: 552
Reply 2 on: Jun 29, 2018
:D TYSM

amcvicar

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Location of internal and external hemorrhoids. Location of internal and external hemorrhoids.
External auditory canal External auditory canal
Rat's external anatomy Rat's external anatomy
U.S. Presence and Regional Politics U.S. Presence and Regional Politics
External Anatomy of the Spinal Cord External Anatomy of the Spinal Cord
EXTERNAL ANATOMY OF CHICKENS EXTERNAL ANATOMY OF CHICKENS
Video: Introduction to Diabetes

For a complete list of videos, visit our video library