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

Author Question: A student wrote: When the average product of labor exceeds the marginal product, the marginal ... (Read 127 times)

vHAUNG6011

  • Hero Member
  • *****
  • Posts: 514
on: Jun 29, 2018
A student wrote: When the average product of labor exceeds the marginal product, the marginal product is increasing. If you were the instructor, how would you correct this statement?
 
  What will be an ideal response?

Question 2

The above figure shows the marginal private benefit and marginal social cost of a college education. If society's external benefits from college graduates is 10,000 each, then the
 
  A) marginal social cost curve lies 10,000 to the left of the private marginal benefit curve.
  B) marginal social cost curve lies 10,000 to the right of the private marginal benefit curve.
  C) marginal social benefit curve lies 10,000 below the private marginal benefit curve.
  D) marginal social benefit curve lies 10,000 above the private marginal benefit curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jsherida

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 29, 2018
Answer to Question 1

There are several errors. The corrected sentence is When the average marginal product of labor exceeds the marginal average product, the marginal average product is increasing.

Answer to Question 2

D


vHAUNG6011

  • Member
  • Posts: 514
Reply 2 on: Jun 29, 2018
:D TYSM

cam1229

  • Member
  • Posts: 329
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Average Hourly Earnings of U.S. Workers in Current and Constant Dollars Average Hourly Earnings of U.S. Workers in Current and Constant Dollars
Indentured Labor from Asia Indentured Labor from Asia
The average percentages by polygraph exams The average percentages by polygraph exams
As a result of a hole in the graph, which of the following functions does not have an average ... As a result of a hole in the graph, which of the following functions does not have an average ...
An educational institution has total direct labor and material costs of $1964 per student. Its ... An educational institution has total direct labor and material costs of $1964 per student. Its ...
Mg can react with HCl to produce the white solid MgCl2 and H2 gas. A student mixes 1.99 g of ... Mg can react with HCl to produce the white solid MgCl2 and H2 gas. A student mixes 1.99 g of ...
Video: Simple Diffusion - gases and nonpolar compounds transport

For a complete list of videos, visit our video library