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

Author Question: If the value of marginal product of a factor of production exceeds the price of the factor, the ... (Read 94 times)

EAugust

  • Hero Member
  • *****
  • Posts: 550
on: Jun 29, 2018
If the value of marginal product of a factor of production exceeds the price of the factor, the
 
  A) firm should hire more of that factor.
  B) firm should hire less of that factor.
  C) firm is maximizing profits.
  D) firm should shut down.

Question 2

Tom takes 20 minutes to cook an egg and 5 minutes to make a sandwich. Jerry takes 15 minutes to cook an egg and 3 minutes to make a sandwich. Tom has a comparative advantage in ________ and Jerry has a comparative advantage in ________.
 
  A) cooking eggs; making sandwiches
  B) making sandwiches; cooking eggs
  C) neither of these activities; both activities
  D) both activities; neither of these activities


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

GCabra

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


EAugust

  • Member
  • Posts: 550
Reply 2 on: Jun 29, 2018
Excellent

nothere

  • Member
  • Posts: 324
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

How to use the product rule to find the derivative of a function How to use the product rule to find the derivative of a function
The direct product of phosphate hydrolysis from PEP is the enol form of pyruvate The direct product of phosphate hydrolysis from PEP is the enol form of pyruvate
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
The Production Function The Production Function
Use the product rule to find derivative Use the product rule to find derivative
During G0 and early G1, pRB interacts with and inactivates transcription factor E2F During G0 and early G1, pRB interacts with and inactivates transcription factor E2F
Video: Lipid catabolism - lipolysis and beta oxidation and oxidation of fatty acids

For a complete list of videos, visit our video library