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

Author Question: A profit-maximizing firm will hire extra units of a resource when a. marginal resource cost exceeds ... (Read 111 times)

khang

  • Hero Member
  • *****
  • Posts: 569
on: Jun 30, 2018
A profit-maximizing firm will hire extra units of a resource when
 a. marginal resource cost exceeds marginal revenue product
  b. marginal resource cost is equal to marginal revenue product
  c. marginal resource cost is less than marginal revenue product
  d. temporary resource price differentials exceed the marginal resource cost
  e. the average resource cost and marginal resource cost curves are equal

Question 2

Free markets produce too little output when
 a. negative externalities exist
  b. positive externalities exist
  c. production uses fixed-production technology
  d. production uses variable technology
  e. the resource is exhaustible


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

gabrielle_lawrence

  • Sr. Member
  • ****
  • Posts: 353
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

B


khang

  • Member
  • Posts: 569
Reply 2 on: Jun 30, 2018
Wow, this really help

brbarasa

  • Member
  • Posts: 308
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

A graphical representation of the marginal value theorem. A graphical representation of the marginal value theorem.
Galaxies Forming by Combining Smaller Units Galaxies Forming by Combining Smaller Units
Cost of Going to School Cost of Going to School
Expressing amounts of energy in different energy units is necessary to solve man Expressing amounts of energy in different energy units is necessary to solve man
Expressing amounts of energy in different energy units is necessary to solve many chemistry ... Expressing amounts of energy in different energy units is necessary to solve many chemistry ...
Directions: Fill in the correct number or word(s). Order: Lantus U-100 insulin 68 units subcut ... Directions: Fill in the correct number or word(s). Order: Lantus U-100 insulin 68 units subcut ...
Video: X chromosome inactivation in calico cats

For a complete list of videos, visit our video library