« previous next »

Author Question: A firm's long run cost is the cost of production when the firm A) calculates its cost at least ... (Read 106 times)

cdr_15

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
A firm's long run cost is the cost of production when the firm
 
  A) calculates its cost at least one year into the future.
  B) adds together all of its short run costs.
  C) uses the economically efficient quantities for its plant and its labor.
  D) can vary the amount of output it produces.

Question 2

The above figure shows the market for labor. The employer is a monopsony. The firm will maximize its profit by hiring 400 hours of labor because at that point
 
  A) MCL > W.
  B) VMP > W.
  C) MCL > VMP.
  D) MCL = VMP.


apple

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Primary production is constrained by the most limiting factor. Primary production is constrained by the most limiting factor.
A herd of barren-ground caribou at the Thelon River. This subspecies is a long-distance migrant A herd of barren-ground caribou at the Thelon River. This subspecies is a long-distance migrant
Block Diagram of Single-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid Block Diagram of Single-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid
Cost of Laptops Cost of Laptops
C heck the description bcuz the question is too long. there is a file attached but it is the ... C heck the description bcuz the question is too long. there is a file attached but it is the ...
If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ... If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ...
Video: Muscular Dystrophy

For a complete list of videos, visit our video library