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Author Question: The contract curve in an Edgeworth Box diagram illustrates A) the only efficient allocation of ... (Read 71 times)

neverstopbelieb

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on: Jul 1, 2018
The contract curve in an Edgeworth Box diagram illustrates
 
  A) the only efficient allocation of goods among individuals.
  B) all possible efficient allocations of goods among individuals.
  C) all equitable distributions of goods among individuals.
  D) the only equitable distribution of goods among individuals.

Question 2

The Acme Company is a perfect competitor in its input markets and its output market. Its average product of labor is 30, the marginal product of labor is 20, the price of labor is 20, and the price of the output is 5.
 
  For Acme Company, the marginal revenue product of labor A) is 100.
  B) is 150.
  C) is 400.
  D) is 600.
  E) cannot be determined with the information provided.


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shaikhs

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


neverstopbelieb

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Reply #2 on: Jul 1, 2018
Thank you


shaikhs

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Reply #3 on: Jul 1, 2018
No problemo


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