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

Author Question: Refer to Scenario 7.3. Suppose that the price of labor is 5 and the price of capital is 20. Your ... (Read 129 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
on: Jul 1, 2018
Refer to Scenario 7.3. Suppose that the price of labor is 5 and the price of capital is 20. Your firm desires to produce 200 units of output. How much labor will be hired to minimize the costs of producing 200 units of output?
 
  A) 25
  B) 50
  C) 100
  D) 200
  E) none of the above

Question 2

If the factor supply curve facing a monopolist is the market supply curve, and if the market supply curve is an upward sloping straight line, the marginal expenditure curve
 
  A) lies below the market supply curve.
  B) lies above the market supply curve.
  C) is the market supply curve.
  D) crosses the market supply curve at the market wage rate.
  E) either A or B is possible.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chem1s3

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

B


OSWALD

  • Hero Member
  • *****
  • Posts: 580
Reply #2 on: Jul 1, 2018
Thank you :)


chem1s3

  • Sr. Member
  • ****
  • Posts: 320
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

A possible scenario for human evolution A possible scenario for human evolution
A possible “RNA world” scenario A possible “RNA world” scenario
Marginal Products of Physical and Human Capital Marginal Products of Physical and Human Capital
Share of Human Capital in Wages in Advanced Countries Share of Human Capital in Wages in Advanced Countries
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ... Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Dietary Cholesterol & LDL

For a complete list of videos, visit our video library