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

Author Question: For a competitive firm, workers' marginal revenue product equals the marginal product of labor times ... (Read 123 times)

dalyningkenk

  • Hero Member
  • *****
  • Posts: 598
on: Jun 30, 2018
For a competitive firm, workers' marginal revenue product equals the marginal product of labor times the:
 a. wage rate.
  b. price of the firm's product.
  c. interest rate.
  d. firm's total revenue.

Question 2

Economies of scale imply that within some range one can increase the size of operation and:
 a. total cost will decrease.
  b. fixed cost will decrease.
  c. average total cost will decrease.
  d. average total cost will increase.
  e. average variable cost will decrease.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ilianabrrr

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


dalyningkenk

  • Member
  • Posts: 598
Reply 2 on: Jun 30, 2018
Wow, this really help

essyface1

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« 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?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Child Labor Rates and GDP Worldwide Child Labor Rates and GDP Worldwide
Torque is a twisting force equal to the distance from the pivot point times the force applied ... Torque is a twisting force equal to the distance from the pivot point times the force applied ...
One-handed kneading. Tissues are lifted with the whole hand in firm contact. One-handed kneading. Tissues are lifted with the whole hand in firm contact.
Lineweaver–Burk plots of the reactions with and without a competitive inhibitor Lineweaver–Burk plots of the reactions with and without a competitive inhibitor
Importance of Considering Gestalt Principles in Product Design Importance of Considering Gestalt Principles in Product Design
Specialized Workers: Soldier Termite Specialized Workers: Soldier Termite
Video: Role of ATP in muscle movement

For a complete list of videos, visit our video library