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

Author Question: Which of the following statements brings out the relationship between the value of marginal product ... (Read 80 times)

formula1

  • Hero Member
  • *****
  • Posts: 666
on: Jun 30, 2018
Which of the following statements brings out the relationship between the value of marginal product (VMP) and the marginal revenue product (MRP)?
 a. They are the same for a firm selling in a perfectly competitive market structure.
  b. They are the same for a firm purchasing inputs in a perfectly competitive market structure.
  c. VMP is greater than MRP when a firm is perfectly competitive in the product market.
  d. VMP is less than MRP when a firm is perfectly competitive in the product market.
  e. They are same when a firm is a monopolist.

Question 2

Sellers are more willing to supply a good or service for which the profit is low than to supply a good or service for which the profit is high.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

maya.nigrin17@yahoo.com

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

False


formula1

  • Member
  • Posts: 666
Reply 2 on: Jun 30, 2018
Excellent

ryhom

  • Member
  • Posts: 366
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

An identified risk factor for osteoporosis is the intake of excessive amounts of vitamin A. Dietary intake of approximately double the recommended daily amount of vitamin A, by women, has been shown to reduce bone mineral density and increase the chances for hip fractures compared with women who consumed the recommended daily amount (or less) of vitamin A.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Schematic relationship between a phylogenetic tree and taxonomy. Schematic relationship between a phylogenetic tree and taxonomy.
Relationship between body size and seed size in Galapagos finch species Relationship between body size and seed size in Galapagos finch species
The relationship of substrate con- version (as measured by optical density) to the amount of patient ... The relationship of substrate con- version (as measured by optical density) to the amount of patient ...
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 relationship between folate and B12 metabolism A relationship between folate and B12 metabolism
Importance of Considering Gestalt Principles in Product Design (1 of 2) Importance of Considering Gestalt Principles in Product Design (1 of 2)
Video: Neural Reflex Arc Animation

For a complete list of videos, visit our video library