« previous next »

Author Question: Which of the following is characteristic of the marginal revenue product schedule for a resource? ... (Read 40 times)

luvbio

  • Hero Member
  • *****
  • Posts: 623
on: Jun 30, 2018
Which of the following is characteristic of the marginal revenue product schedule for a resource?
 a. It approximates the firm's demand curve for the resource.
  b. It measures the change in total revenue resulting from employing an additional unit of the resource.
  c. It is determined by multiplying the marginal product of the resource by the marginal revenue of the good produced.
  d. All of these are true.

Question 2

A downward-sloping portion of a long-run average total cost curve is the result of:
 a. economies of scale.
  b. diseconomies of scale.
  c. diminishing returns.
  d. the existence of fixed resources.


wtf444

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Diagram of a flagellate stramenopile cell, showing characteristic flagellar hairs. Diagram of a flagellate stramenopile cell, showing characteristic flagellar hairs.
Rivers Are a Product of Their Watersheds Rivers Are a Product of Their Watersheds
Fluoride Supplement Dosage Schedule Fluoride Supplement Dosage Schedule
To find the derivative use product rule To find the derivative use product rule
Present Value Formula: Amortization Schedule Present Value Formula: Amortization Schedule
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Video: Atrial natriuretic peptide (vasodilation) & Aldosterone

For a complete list of videos, visit our video library